MP banki was an

investment bank Investment is the dedication of money to purchase of an asset to attain an increase in value over a period of time. Investment requires a sacrifice of some present asset, such as time, money, or effort. In finance, the purpose of investing is ...

in Iceland that operated from 2003 until 2015 when it became part of Kvika Banki.

History

The company was founded as MP Securities ( Icelandic: MP Verðbréf hf) in 1999 by Margeir Pétursson together with Sverrir Kristinsson and Ágústi Sindra Karlsson. They owned 10% each, while Margeir 80% shares. The bank received an investment banking license in 2003 and started to offered a comprehensive investment banking service. After the bank was licensed as an investment bank the name changed to MP Investment Bank ( Icelandic: MP Fjárfestingarbanki hf). In 2008, the bank received a

commercial bank A commercial bank is a financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit. It can also refer to a bank, or a division of a large bank, which deals with co ...

ing license and changed its name to MP banki. It became the only commercial bank in Iceland that did not collapse that year when the worldwide economic crisis hit the country. MP banki and

Straumur Investment Bank ALMC hf., formerly Straumur Investment Bank hf. ( is, Straumur Fjárfestingabanki), is a regional investment bank headquartered in Reykjavík, Iceland. Founded in 1986 as ''Hlutabréfasjóðurinn'' and rebranded as Straumur in 2004, the bank in ...

merged in July 2015 and the name changed to Kvika banki.

References

Banks of Iceland Banks established in 1999 Defunct banks Tavistock Group 1999 establishments in Iceland Lithuanian companies established in 2007 {{Europe-bank-stub