MP banki was an

investment bank Investment is traditionally defined as the "commitment of resources into something expected to gain value over time". If an investment involves money, then it can be defined as a "commitment of money to receive more money later". From a broade ...

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 that accepts deposits from the public and gives loans for the purposes of consumption and investment to make a profit. It can also refer to a bank or a division of a larger bank that deals with whol ...

ing license and changed its name to MP banki. It became the only commercial bank in Iceland that did not collapse due to the

2008 financial crisis The 2008 financial crisis, also known as the global financial crisis (GFC), was a major worldwide financial crisis centered in the United States. The causes of the 2008 crisis included excessive speculation on housing values by both homeowners ...

. MP banki and

Straumur Investment Bank ALMC hf., formerly Straumur Investment Bank hf. (), is a regional investment bank headquartered in Reykjavík, Iceland. Founded in 1986 as ''Hlutabréfasjóðurinn'' and rebranded as Straumur in 2004, the bank initially survived the financial t ...

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

References

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