News Room

Nobel Peace Prize laureate Dr. Rajendra Pachauri joins the Board of Glitnir's Sustainable Future Fund.

Glitnir Bank has announced the launch of "Save&Save", a unique deposit product which the Bank will offer to customers in its two main markets of Iceland and Norway.

Glitnir Bank made 2nd place for the “Sustainable Deal of the Year” at Financial Times Sustainable Banking awards, which were presented at an award ceremony in London Tuesday evening. Among speakers was the Mayor of London, Boris Johnson and Barcleys Chairman, Marcus Agius.

Glitnir Research’s macroeconomic forecast 
A two-year period of stagnation has begun in the Icelandic economy, a period when the economy will reach equilibrium after rapid economic growth and overheating in recent years. We forecast negligible economic growth this year and next year as inflation subsides and the current account deficit narrows.

Organisational layoffs in Iceland completed.

Glitnir has appointed six key managers to the Bank's Executive Management Board.

Glitnir Bank ASA issues covered bonds for NOK 7 billion (approximately EUR 900m) in the Norwegian Market

Fitch Ratings Services announced today that it has lowered its long-term counterparty credit ratings on Glitnir Bank from A to A-, with a negative outlook and as a result  the short-term rating  is lowered from F1 to F2 with a stable outlook. The B/C individual rating was confirmed.

ISK 7.7 billion (EUR 76m) profits before tax
Total recognised income in equity ISK 28.4bn (EUR 280m)
Strong liquidity position EUR 8.7

Glitnir will publish its first quarter results for 2008 on Wednesday May 7th. A presentation for shareholders and market participants will be held on the same day, May 7th, at Hilton Reykjavík Nordica in Reykjavik.

Glitnir Securities and Pareto Securities AS acted as joint lead managers in the private placement for 19,149 million new shares on Friday. The private placement was substantially over-subscribed. The subscription price was set to NOK 23.50 per share, giving gross proceeds of approximately EUR 56 million (NOK 450 million).