KAUPTHING BANK – THINKING BEYOND

Posted: November 17th, 2009 | Author: admin | Filed under: banking and finance magazine | Tags: , , , | No Comments »

Kaupthing Bank is a northern European bank charity integrated monetary services to companies, institutional investors as well as individuals. These services embody corporate banking, investment banking, collateral markets services, item supervision as well as extensive resources supervision for in isolation promissory note clients.

Kaupthing Bank was shaped by a partnership of Kaupthing as well as Búnaðarbanki Íslands in 2003 as well as is a largest bank in Iceland. The bank operates in 10 countries, together with all a Nordic countries (Denmark, Faroe Islands, Finland, Norway as well as Sweden), Luxembourg, Switzerland, a UK as well as a US. The bank is a eighth largest bank in a Nordic countries in conditions of marketplace capitalization as well as it employs over 2,500 people as well as maintains 36 sell branches in Iceland.

In new years, Kaupthing Bank has been a single of a fastest flourishing monetary groups in Europe. The Bank’s enlargement has been completed by receptive to advice organic expansion as well as a series of vital acquisitions. The many new acquisitions have been those of FIH Erhvervsbank in Denmark in 2004 as well as in 2005 a UK bank Singer & Friedlander, right away Kaupthing Singer & Friedlander. The target of this expansion is to serve raise a Bank’s capability to yield extensive services to a customer bottom in a UK, Scandinavia as well as elsewhere in northern Europe.

As of Dec 31st 2006, a bank had sum resources of €42.9 billion. In 2006, it ranked series 1,006 upon Forbes Global 2000, that is an annual ranking of tip 2000 corporations in a universe by Forbes magazine. The same year, it ranked series 177 (up by 34 seats from 2005) upon a list of a world’s largest banks stoical annually by a general financial repository The Banker.

In 2006, Kaupthing Bank had net gain of €971 million, compared with €659 million in 2005. About 70% of a handling distinction originated outward of Iceland (30% in Iceland, 34% in a UK, 26% in Scandinavia, 8% in Luxembourg as well as 2% in alternative countries).

The Name

The bank is well known as Kaupthing Bank outward of Iceland. In Iceland, a central name is Kaupþing Banki hf. formerly, a central name was Kaupþing Búnaðarbanki hf., though a name was altered as a former name was deliberate as well unmanageable for many people. From 2003 to 2006 a association used a name KB banki for a sell operations in Iceland. In Dec 2006 however, a bank proposed regulating a aged name of Kaupþing for a network of high-street bank. It was voiced that a shift was partial of a bank’s devise to work underneath a same name everywhere. [4]

History

Founded in 1930 Búnaðarbanki Íslands was publicly owned from a pregnancy as well as was privatized by a supervision in stages in between 1998 as well as 2003. Kaupþing Bank was founded in 1982. Four years later, it was a single of a first members of a Iceland Stock Exchange. Half of a bank was sole to a Icelandic assets banks in 1986. The alternative half was sole to Búnaðarbanki Íslands in 1990, that sole a shares to a assets banks in 1996. The assets banks began offered a shares to a open upon a batch marketplace in 2000.

Acquisitions, mergers, subsidiaries

- 1982 Kaupthing hf. founded in Iceland

- 1998 Kaupthing Luxembourg, S.A. non-stop

- 2000 Kaupthing Faroe Islands opened, Kaupthing New York opened, Kaupthing Stockholm non-stop

- 2001 Kaupthing Bank Copenhagen opened, Kaupthing Lausanne opened, Sofi acquired in Finland

- 2002 Aragon acquired in Sweden, JP Nordiska acquired in Sweden, Auðlind acquired in Iceland

- 2003 Kaupthing merges with Búnaðarbanki Íslands to form Kaupthing Bank, Tyren acquired in Norway, Norvestia acquired in Finland, Kaupthing Limited non-stop in a UK

- 2004 A. Sundvall acquired in Norway, FIH acquired in Denmark

- 2005 Singer & Friedlander acquired in a UK

- 2006 Kaupthing Limited merges with Singer & Friedlander to form Kaupthing Singer & Friedlander in a UK