Deposits in an amount of 2.7 billion and over 140,000 customers won the Nordic Kaupthing Bank on a successful first half of 2008 looks back. The Institute achieved a profit of 313 million. The extraordinary growth is expressed also by winning by more than 140,000 customers in just six months, who have placed deposits in an amount of EUR 2.7 billion at Kaupthing. Hreidar Mar Sigurdsson, Chief Executive Officer of Kaupthing Bank, showing very happy with the development: Kaupthing moves still very successfully on the market. Our return on equity (ROE) amounted to 20 percent in the first half of 2008. It is satisfying to see that we achieve our ROE target also given the upheavals on the financial markets. Our most important success is that we have succeeded in protecting our equity position and our liquidity against the turmoil in the Icelandic economy.
Customer deposits have increased in the second quarter to 28 per cent and we are sure that we end the year as planned a Deposits/credit ratio by 50 percent to reach. The Bank is properly funded and has a stable liquidity. Of course, also Kaupthing as any other Bank by the turmoil in the international financial markets is concerned. Our business is however geographically well diversified, risk management is robust and the quality of our assets is good. We are so sure that we are well prepared on the continuing turmoil in the market.” Also on the German market, Kaupthing edge started very successfully in March 2008. Already in the fourth quarter of 2007, the company in the markets of Norway, Sweden and Finland had occurred.
Shortly followed by the markets in the UK, the Isle of man, Denmark, of Switzerland, Belgium and in Luxembourg. A day money rate of 5.10 percent guaranteed the credit institution in Germany until January 1, 2009, per year. In addition a bonus of 0.55% per year for the first six months after account opening. It is the overall interest rate of 5.65 percent. In addition to Kaupthing, guarantees that the Daily interest rate money until 1 January 2012 always above the prime lending rate of the European Central Bank (ECB) will be. Kaupthing also offers a deposit money account that offers an interest rate of 5.45 percent for a conditioning period of one year. Thus the direct bank is located at the top of the competition with their fixed-term deposits. Learn more about chewing thing edge under Kaupthing edge, the German branch of the Icelandic Kaupthing hf is Bank. The Bank has over 80 years experience in the retail business and operates in thirteen countries. The magazine Euromoney”honored the credit institution as the best bank in the North and Baltikregion in 2007. In December of the same year, a study by Arthur D. Little revealed that Kaupthing is the second most efficient Bank in Europe. It has an A1 – rating from Moody’s. Fitch Ratings confirms the company an A-rated credit quality. In 2008 Kaupthing edge in the UK was nominated as the best provider of interest accounts for the money facts. About Kaupthing the Kaupthing Bank offers comprehensive banking services for individuals, companies and institutional investors. The Bank focuses on the growth and the development of their international activities and is one of the leading investment banks in Northern Europe.