The Banker, a member of the Financial Times group and the world’s oldest banking magazine, awarded Glitnir Iceland’s “Bank of the Year” in its annual awards ceremony at the Dorchester Hotel in London last week.
According to a Glitnir press release, Glitnir Bank was given the following review in The Banker’s December issue:
“Glitnir has impressed the Banker‘s judges for its targeted acquisitions and its outstanding 80 percent profit increase.”
“Glitnir has taken over a number of small brokerage houses and broke into the Nordic equity brokerage market with a combined 6.16 percent market share—the third highest in the field. Acquisitions were carried out in a disciplined and effective manner.”
“We are working hard to build the Glitnir brand internationally. To do this, we draw worldwide on the expertise within our group to provide our customers, be they in the US, Iceland or China, with top flight banking products and services. This award is a ‘vote of confidence’ and we are truly appreciative,” said Glitnir CEO Lárus Welding.
Over 100 banks from all over the world were assessed in the 2007 awards. Banks are rated on their most recent results, growth rates and performance data over the previous period.