The three largest Icelandic business banks: KB Bank, Íslandsbanki and Landsbanki employ 2,100 abroad compared to 3,000 in Iceland, reports Morgunbladid.
KB Bank and its subsidiaries have nine branch offices in Europe and one in the US; Landsbanki has 10 branch offices in Europe, it also has offices in Canada and the US; Íslandsbanki has six offices in Europe and plans to open an office in Canada.
In the last few years, financial services have continued to grow, and their contribution to the Icelandic GDP is now comparable to the fisheries industry which has long been considered the engine of the Icelandic economy.
The bank’s managers agree that their operations abroad have a positive economic contribution to the economy through increased income of the banks and well paid jobs.
