Glitnir named Icelandic bank of the year

Glitnir has been proclaimed ‘Bank of the Year’ in Iceland by The Banker magazine at its recent 2007 awards ceremony in London.

Reykjavik / Oslo (eNewsWire) 13 December 2007 – Nordic bank Glitnir has won its second prestigious banking award in under two months.

The corporate investment bank picked up the Bank of the Year award at a presentation by The Banker magazine in London on 28th November. It follows an award for ‘Best Bank’ by Global Finance Magazine in October.

The Banker said in its December issue that the judges were impressed by Glitnir’s “targeted acquisitions and outstanding 80% profit increase.” The Banker magazine is a member of the Financial Times group and the world’s oldest international banking magazine.

The banking magazine also said, “Glitnir has taken over a number of small brokerage houses and broke into the Nordic equity brokerage market with a combined 6.16% market share – the third highest in the field. Acquisitions were carried out in a disciplined and effective manner.”

The Banker emphasised the exceptional performance achieved by Glitnir’s management and employees over the past year and praised Glitnir for its efforts to enhance and promote the banking system in Iceland.

CEO of Glitnir, Larus Welding, said the award was a “vote of confidence” in the Nordic bank. He said the bank was “working hard to build the Glitnir brand internationally” and was drawing on worldwide expertise within the group to provide its customers with ‘top flight banking products and services.’

Over 100 banks from all over the world were assessed for the 2007 awards. Banks were rated on their most recent results, growth rates and performance data. The use of technology was also taken into account as was how well the banks’ structures, strategies and acquisitions equipped them for future development.

Glitnir was also recently ranked ‘Best Bank’ by Global Finance Magazine in recognition of the bank’s “outstanding achievements” in banking in Iceland. Larus Welding commented on both awards by saying, “These accolades are a tribute to the bank’s focus on customers and its drive to provide reliable, yet dynamic and innovative services.”

The Glitnir group offers universal banking and financial services, particularly in three global niche sectors of seafood, sustainable energy and offshore services vessels. Glitnir considers Iceland and Norway as its two home markets and also has offices in Sweden, Denmark, Finland, Luxembourg, Russia, US, Canada, China, the UK and the US.

For more information on Glitnir bank visit:

Bjørn Richard Johansen
Managing Director, Corporate Communications, Glitnir
Tel: +47 47 800 100