MP Bank
| Company type | Private |
|---|---|
| Industry | Banking |
| Founded | October 15, 2003 |
| Defunct | June 30, 2015 |
| Successor | Kvika banki |
| Headquarters | Reykjavik, Iceland |
MP banki was an investment bank in Iceland that operated from 2003 until 2015 when it became part of Kvika Banki.[1]
History
The company was founded as MP Securities (Icelandic: MP Verðbréf hf) in 1999[2][3] by Margeir Pétursson[3] together with Sverrir Kristinsson and Ágústi Sindra Karlsson. [citation needed] They owned 10% each, while Margeir 80% shares.
The bank received an investment banking license in 2003 and started to offered a comprehensive investment banking service. After the bank was licensed as an investment bank the name changed to MP Investment Bank (Icelandic: MP Fjárfestingarbanki hf).
In 2008, the bank received a commercial banking license and changed its name to MP banki.[3] It became the only commercial bank in Iceland that did not collapse that year when the worldwide economic crisis hit the country.[3]
MP banki and Straumur Investment Bank merged in July 2015 and the name changed to Kvika banki.[1]
References
- ^ a b "The world has a lot to learn from Iceland's economic recovery | World Finance". www.worldfinance.com. Retrieved 2018-01-19.
- ^ "Mr. Vygandas Jūras has been appointed Head of MP Investment Bank - Baltic Branch". Kvika (EN). Retrieved 2018-01-19.
- ^ a b c d McClain, Dylan Loeb (2009-07-03). "Caution Kept Icelandic Bank Clear of the Worst". The New York Times. ISSN 0362-4331. Retrieved 2018-02-02.
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