Kaupþing banki hf.
Type	Public (OMX: KAUP)
Founded	Reykjavík, Iceland, 1930 (foundation of Búnaðarbanki)
Headquarters	Reykjavík, Iceland
Key people	Hreiðar Már Sigurðsson (CEO), Sigurður Einarsson (Chairman of the board), Ingólfur Helgason (CEO in Iceland), Ármann Þorvaldsson (CEO in United Kingdom)
Industry	Banking
Profit	▲ €812 million (2007)[1]
Total assets	€58. A public company usually refers to a company that is permitted to offer its registered securities ( Stock, bonds, etc OMX AB ( A ktie' b' olaget O ptions' m' äklarna/Helsinki Stock E' x' change is a Swedish - Finnish Financial For the Greater Reykjavík Area see the Greater Reykjavík Area. Iceland, officially the Republic of Iceland ( ( Ísland or Lýðveldið Ísland ( For the Greater Reykjavík Area see the Greater Reykjavík Area. Iceland, officially the Republic of Iceland ( ( Ísland or Lýðveldið Ísland ( Hreiðar Már Sigurðsson (born November 19, 1970) is an Icelandic business manager working in international finance and A chief executive officer ( CEO) or chief executive is typically the highest-ranking corporate officer ( executive) or administrator A chief executive officer ( CEO) or chief executive is typically the highest-ranking corporate officer ( executive) or administrator Iceland, officially the Republic of Iceland ( ( Ísland or Lýðveldið Ísland ( A chief executive officer ( CEO) or chief executive is typically the highest-ranking corporate officer ( executive) or administrator The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom, the UK or Britain,is a Sovereign state located For other uses of this term see Industry (disambiguation An industry (from Latin industrius, "diligent industrious" A banker or bank is a Financial institution whose primary activity is to act as a payment agent for customers and to borrow and lend money Net income is equal to the Income that a firm has after subtracting costs and Expenses from the total Revenue. In Business and Accounting, assets are everything owned by a person or company (all tangible and intangible property that can be converted into cash. 34 billion (2007)[1]
Employees	3,330 (2007)[1]
Website	www.kaupthing.com

Kaupthing Bank (Icelandic: Kaupþing banki) (OMX: KAUP, OMX Stockholm: KAUP SEK) is an Icelandic bank, headquartered in Reykjavík, Iceland. Employment is a Contract between two parties, one being the employer and the other being the employee. A website (alternatively web site or Web site, a back-construction from the Proper noun World Wide Web) is a collection of Web pages Icelandic ( is a North Germanic language, the language of Iceland. OMX AB ( A ktie' b' olaget O ptions' m' äklarna/Helsinki Stock E' x' change is a Swedish - Finnish Financial Iceland, officially the Republic of Iceland ( ( Ísland or Lýðveldið Ísland ( For the Greater Reykjavík Area see the Greater Reykjavík Area. Iceland, officially the Republic of Iceland ( ( Ísland or Lýðveldið Ísland ( It was formed by the merger of Kaupthing and Búnaðarbanki Íslands in 2003 and is the largest bank in Iceland. Year 2003 ( MMIII) was a Common year starting on Wednesday of the Gregorian calendar.

Kaupthing Bank currently operates in thirteen countries; including all the Nordic countries, Belgium, Luxembourg, Switzerland, the United Kingdom and the United States. The Kingdom of Belgium is a Country in northwest Europe. It is a founding member of the European Union and hosts its headquarters as well as those Luxembourg (Groussherzogtum Lëtzebuerg Grand-Duché de Luxembourg Großherzogtum Luxemburg is a small Landlocked country in Western Europe, bordered by Switzerland (English pronunciation; Schweiz Swiss German: Schwyz or Schwiiz Suisse Svizzera Svizra officially the Swiss Confederation The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom, the UK or Britain,is a Sovereign state located The United States of America —commonly referred to as the It is the seventh largest bank in the Nordic countries in terms of market capitalization. The Nordic countries make up a region in Northern Europe called the Nordic region, consisting of Denmark, Finland, Iceland,

The bank employs over 3,300 people and maintains 36 retail branches in Iceland. Iceland, officially the Republic of Iceland ( ( Ísland or Lýðveldið Ísland (

As of December 31st 2007, the bank had a total assets of €58. Events 406 – Vandals, Alans and Suebians cross the Rhine, beginning an invasion of Gallia. Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. 3 billion. [1] In 2006, it ranked number 1,006 on Forbes Global 2000, which is an annual ranking of top 2000 corporations in the world by Forbes magazine. Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. The Forbes Global 2000 is an annual ranking of the top 2000 Public companies in the world by Forbes magazine A corporation is a separate legal entity usually used to conduct business Forbes is an American Publishing and media company Its flagship publication Forbes magazine is published bi-weekly ^[2] The same year, it ranked number 177 (up by 34 seats from 2005) on the list of the world's largest banks composed annually by the international finance magazine The Banker. Year 2005 ( MMV) was a Common year starting on Saturday (link displays full calendar of the Gregorian calendar. ^[3]

In 2007, Kaupthing Bank had net earnings of €812 million, compared with €986 million in 2006. Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. About 70% of the operating profit originated outside of Iceland (33% in Iceland, 31% in the UK, 26% in Scandinavia, 8% in Luxembourg and 2% in other countries. In financial and business Accounting, earnings before interest and taxes (EBIT is a measure of a firm's profitability that excludes interest and income tax expenses Iceland, officially the Republic of Iceland ( ( Ísland or Lýðveldið Ísland ( Iceland, officially the Republic of Iceland ( ( Ísland or Lýðveldið Ísland ( The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom, the UK or Britain,is a Sovereign state located Terminology and usage As a cultural term "Scandinavia" has no official definition and is subject to usage by those who identify with the culture in question as well Luxembourg (Groussherzogtum Lëtzebuerg Grand-Duché de Luxembourg Großherzogtum Luxemburg is a small Landlocked country in Western Europe, bordered by ) [2]

Contents 1 The name 2 History 3 Acquisitions, mergers, subsidiaries 4 Kaupthing Edge 5 See also 6 References 7 External links

The name

The bank is known as Kaupthing Bank outside of Iceland.

In Iceland, its official name is Kaupþing Banki hf.

Formerly, its official name was Kaupþing Búnaðarbanki hf. , but the name was changed as the former name was considered too unwieldy for most people. From 2003 to 2006 the company used the name KB banki for its retail operations in Iceland. Year 2003 ( MMIII) was a Common year starting on Wednesday of the Gregorian calendar. Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. In December 2006 however, the bank started using the old name of Kaupþing for its network of high-street bank. It was announced that the change was part of the bank's plan to operate under the same name. ^[4]

History

Founded in 1930 Búnaðarbanki Íslands was publicly owned from its inception and was privatized by the government in stages between 1998 and 2003. Year 1930 ( MCMXXX) was a Common year starting on Wednesday (link will display 1930 calendar of the Gregorian calendar. Privatization is the incidence or process of transferring ownership of business from the Public sector (government to the Private sector (business Year 1998 ( MCMXCVIII) was a Common year starting on Thursday (link will display full 1998 Gregorian calendar) Year 2003 ( MMIII) was a Common year starting on Wednesday of the Gregorian calendar. Kaupþing Bank was founded in 1982. Year 1982 ( MCMLXXXII) was a Common year starting on Friday (link displays the 1982 Gregorian calendar) Four years later, it was one of the founding members of the Iceland Stock Exchange. Iceland Stock Exchange (Kauphöll Íslands or ICEX was established in 1985 as a joint venture of several banks and brokerage firms on the initiative of the central Half of the bank was sold to the Icelandic savings banks in 1986. Year 1986 ( MCMLXXXVI) was a Common year starting on Wednesday (link displays 1986 Gregorian calendar) The other half was sold to Búnaðarbanki Íslands in 1990, which sold its shares to the savings banks in 1996. Year 1990 ( MCMXC) was a Common year starting on Monday (link displays the 1990 Gregorian calendar) Year 1996 ( MCMXCVI) was a Leap year starting on Monday (link will display full 1996 Gregorian calendar) The savings banks began selling its shares to the public on the stock market in 2000. 2000 ( MM) was a Leap year that started on Saturday of the Common Era, in accordance with the Gregorian calendar.

Acquisitions, mergers, subsidiaries

• 1982 Kaupthing hf. founded in Iceland
• 1998 Kaupthing Luxembourg, S. A. opened
• 2000 Kaupthing Faroe Islands opened, Kaupthing New York opened, Kaupthing Stockholm opened
• 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 opened in the UK
• 2004 A. Sundvall acquired in Norway, FIH acquired in Denmark
• 2005 Singer & Friedlander acquired in the UK
• 2006 Kaupthing Limited merges with Singer & Friedlander to form Kaupthing Singer & Friedlander in the UK
• 2007 Kaupthing buys Dutch merchant bank NIBC for €3 billion, (as of late January 2008, Kaupthing decided to cancel the acquisition of NIBC)^[5]
• 2007 Kaupthing buys Belgian private banking and asset management operations of Robeco Bank, for an unspecified amount, further strengthening its position in the Benelux market. Kaupthing Singer & Friedlander is a financial services provider offering corporate and investment banking services to small and medium-sized companies as well as wealth management services Kaupthing Singer & Friedlander is a financial services provider offering corporate and investment banking services to small and medium-sized companies as well as wealth management services Robeco is a Dutch Asset management firm founded in 1929 as the Ro tterdamsch Be leggings Co nsortium (Rotterdam Investment Consortium The Benelux is an economic union in Western Europe that includes three neighboring monarchies, '''Be'''lgium, the '''Ne'''therlands, and ^[6]
• 2007 - 2008 Kaupthing launches internet based Kaupthing Edge in the UK, Belgium, Norway, Germany, Finland, Sweden, Luxembourg, the Isle of Man and Switzerland.

Kaupthing Edge

In mid 2006 all Icelandic Banks were downgraded by credit rating agencies as a result of their being over leveraged and highly dependent on funding from the wholesale capital markets. Kaupthing responded to this by launching a number of new funding vehicles. Kaupthing Edge Kaupthing Edgeis a pan European retail deposit taking brand. The purpose of the brand is to diversify liabilities on the Kaupthing balance sheet by currency, customer type (personal/retail) and country. Kaupthing Edge offers two deposit products: a savings account and a fixed term deposit account. Both are straightforward high-interest products. In Belgium customers can choose a third product which is a current account. The Kingdom of Belgium is a Country in northwest Europe. It is a founding member of the European Union and hosts its headquarters as well as those Kaupthing Edge savings and fixed term deposit accounts are managed over the Internet with the support of telephony call centres.

Kaupthing Edge is availabe in nine countries in Europe:

• Norway - available since January 2007
• Finland - available since October 2007
• Sweden - available since November 2007
• Belgium - available since January 2008
• United Kingdom - available since February 2008
• Germany - available since March 2008
• Luxembourg - available since April 2008
• Isle of Man - available since April 2008
• Switzerland - available since June 2008

See also

• Glitnir
• Landsbanki
• Seðlabanki Íslands

References

External links

• Company Profile February 2008
• 2007 Annual Report
• Official site (Icelandic)
• Official site (English)
• Official site for Kaupthing Edge (English)
• UK site for Kaupthing Edge (English)
• Kaupthing Bank Raises €1.3 Billion In Long-Term Funding

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