Banks’ Art Collections to Go into National Ownership Skip to content

Banks’ Art Collections to Go into National Ownership

Minister of Education and Culture Katrín Jakobsdóttir replied to a question from MP for the Liberal Party Kristinn H. Gunnarsson last week that in her view the art collections of the three banks that have now been nationalized should go into national ownership.

“I believe it is natural for us to make an attempt to reclaim [the artwork] to national ownership,” Jakobsdóttir said at the Althingi parliament on Thursday, Fréttabladid reports. “It is important that this matter is discussed when the new equity accounts of the banks are taken care of.”

Gunnarsson stated that the artwork included in the collections of Glitnir, Kaupthing and Landsbanki, count approximately 4,000 works of art. He argued that when the banks were nationalized, the artwork had automatically become state property.

Both Jakobsdóttir and Gunnarsson agreed that the owners of the old banks had taken good care of their art collections and the banks could therefore possibly continue to preserve the artwork.

Click here to read more about the art collection of Landsbanki.

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