openPR Logo
Press release

direct/ Landsbanki Islands - Landsbanki Opens an Office in Hong Kong

11-14-2007 04:03 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Landsbanki Islands

Landsbanki formally opened its latest overseas office, after receiving authorisation from the financial regulator in Hong Kong, the Hong Kong Monetary Authority, to open an establishment in the country. Landsbanki already has valuable connections in this market, as witnessed by the over 500 guests, mainly business and financial executives in Hong Kong, attending the official reception. After opening this new office Landsbanki operates in 17 countries.

Landsbanki´s Hong Kong office will promote the bank´s services and build up business relationships. To begin with, emphasis will be placed on specialised trade and inventory finance, corporate finance and asset-backed lending. In opening an office in Hong Kong, Landsbanki also aims at reinforcing its access to and connections with Asian market investors, and by so doing diversify still further the geographical distribution of its funding investors.

The Hong Kong office will serve as the hub for Landsbanki´s operations in the Far East, where the bank intends to continue its expansion, for instance, by applying for authorisation to open establishments in Singapore and Shanghai. The decision to locate Landsbanki´s first Far Eastern office in Hong Kong was prompted by the bank´s existing business connections with local companies specialised in the seafood trade. Landsbanki intends to further develop these partnerships and expand into additional areas.

Björn Ársæll Pétursson will direct Landsbanki´s operations in the Far East. An engineering graduate of the University of Iceland, with an MSc from a Japanese university, he joined Landsbanki in 2006, and has extensive experience and knowledge of Asian markets.

CEO Sigurjón p. Árnason:
"Hong Kong is a choice location for Landsbanki to put down roots to nurture the development of its Southeast Asian operations. This is a region where markets have grown rapidly recently and Landsbanki´s customers have shown a great deal of interest in taking advantage of the opportunities it offers. Hong Kong has been the centre of trade in the Far East and the leading link to Europe and America. Our European corporate expertise will prove advantageous for both our current and prospective Asian customers. It is Landsbanki´s objective to spread its loan portfolio and operations even more widely over different geographical regions and sectors. This not only opens up additional possibilities for income generation but reinforces the bank´s risk diversification. Operations in the Far East are a logical next step in the bank´s growth. If the 20th century was the century of European and American trade, the 21st looks certain to be one of rapid development and trade growth in Asia."

Björn Ársæll Pétursson, director of Landsbanki´s Hong Kong office:
"We are extremely gratified by the warm reception Landsbanki has received here in Hong Kong. This was more than evident at the opening ceremony, where attendance far exceeded our expectations. Our objective is to take full advantage of the opportunities available here, both for Landsbanki itself and even more so for its customers throughout the world."

For further information contact:
Sigurjón Þ. Árnason, CEO, tel. +354 8410 4015.

About Landsbanki
Landsbanki is a growing European bank with total assets of ISK 2,847 billion (EUR 32.4 bn) at 30 September 2007 and a market capitalisation of ISK 440 billion (EUR 5.0 bn) at 14 November 2007. Through its extensive distribution network of 2,499 employees in 17 countries, Landsbanki is set to deliver targeted financial services based on local expertise for mid-cap corporates in Europe. Landsbanki provides retail and corporate banking, investment banking, capital markets services, asset management and wealth management for private banking clients. Landsbanki´s unique product line includes access to both debt and equity markets and its research department is among the most comprehensive in Europe, including some 90 analysts covering close to 900 European stocks.

The market leader of the Icelandic financial service sector, Landsbanki´s growth in recent years has been primarily organic, based upon small strategically acquired platforms in the UK, Ireland and Continental Europe. Most recently, the bank acquired the securities broker and investment bank Bridgewell in the UK.

Headquartered in Reykjavik, Iceland, Landsbanki Islands hf. is traded on the OMX Nordic Exchange Iceland under the symbol . Landsbanki is rated by Moody´s (Aa3 / P-1 / C / Stable) and Fitch (A / F1 / B/C / Stable).

Landsbanki Hong Kong Office - Nov 2007

The announcement distributed by Hugin directnews.
The issuer is solely responsible for the content of this announcement.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release direct/ Landsbanki Islands - Landsbanki Opens an Office in Hong Kong here

News-ID: 32334 • Views: 1215

More Releases from Landsbanki Islands

direct/ Landsbanki Islands - Landsbanki presents Q4 2007 financial results on 28 …
Landsbanki will announce its full year financial results after market closing on Monday, 28 January 2008. Presentation in London 29 January Mr Sigurjón Þ. Árnason and Mr Halldór J. Kristjánsson, joint CEOs of Landsbanki, will present Landsbanki´s Q4 2007 results to analysts and investors, followed by a Q&A session. Conducted in English, the presentation will be available live on www.landsbanki.com, where relevant data and presentation material will be posted simultaneously.
direct/ Landsbanki Islands - Landsbanki Well Positioned to Pursue Strategic Obje …
As Landsbanki has previously stated, the diversification of its international operations is a clear strategic priority. The ultimate aim of this strategy is to achieve a broad sectoral and geographical diversification of assets, funding and income through the addition of value enhancing complementary businesses. Landsbanki and Cenkos today announced the commencement of discussions with the management of Close Brothers Group plc for the possible submission of a recommended takeover bid
direct/ Landsbanki Islands - Fitch affirms Landsbanki at ´A´ with stable outlo …
Fitch Ratings has today affirmed Iceland-based Landsbanki Islands´ (Landsbanki) ratings at Long-term Issuer Default (IDR) ´A´, Short-term IDR ´F1´, Individual ´B/C´, Support ´2´ and Support Rating Floor ´BBB´. The Outlook for the Long-term IDR is Stable. In their statement, Fitch marks that the ratings reflect Landsbanki´s leading position in its domestic market, the growing diversification of its earnings, its prudent provisioning policies, comfortable capitalisation and marked improvement in its funding
direct/ Statement regarding announcements by Cenkos Securities plc and Close Bro …
Landsbanki Íslands hf. notes the recent announcements by the English financial services provider Close Brother´s Group plc. and Cenkos Securities plc. concerning the bank´s involvement in a possible offer for the Close Brothers Group plc. Landsbanki confirms that it has, in conjunction with Cenkos Securities plc, made an approach to the board of directors of Close Brothers Group plc. regarding a possible cash offer for the entire issued share capital

All 5 Releases


More Releases for Hong

Hong Kong Wealth Management Market Report- Business Review, Technology, Top Comp …
Hong Kong Wealth Management Market research report helps in gathering and analysing useful insights such as global market size, forecast and Compound Annual Growth Rate (CAGR) of a particular industry. It also helps in determining the market status, future prospects, growth opportunity, main challenges about the market for any industry. Hong Kong Wealth Management Market research report also provides complete analysis of the industry, current market trend, overview of the
The Baby Food Market in Hong Kong Experience Billion$ Growth in 2019 | Friesland …
The Baby Food Market in Hong Kong, 2019 is latest pipeline review released by HTF MI to provides comprehensive information on the therapeutics under development for The Baby Food, complete with analysis by stage of development, drug target, root cause analysis ,mechanism of action (MoA), route of administration (RoA) and molecule type. Get Access to Sample PDF @: https://www.htfmarketreport.com/sample-report/1740247-the-baby-food-market-15 Baby Food segment amounts to US$ 3.827B in 2019. The market is expected
Hong Kong Telecom Market 2017: Key Players – China Mobile Hong Kong, SmarTone, …
SUMMARY WiseGuyReports published new report, titled “Hong Kong: Country Intelligence Report” "Hong Kong: Country Intelligence Report", a new Country Intelligence Report by provides an executive-level overview of the telecommunications market in Hong Kong today, with detailed forecasts of key indicators up to 2022. Published annually, the report provides detailed analysis of the near-term opportunities, competitive dynamics and evolution of demand by service type and technology/platform across the fixed telephony, broadband, mobile and
Hong Kong National Film Festival
On May 27, 2017 in the Kowloon Walled City (Hong Kong) the annual Hong Kong National Film Festival was held. This event featured 13 films in various genres: drama, documentary, animated film, etc. None of the participants of the Hong Kong National Film Festival were deprived of attention! The winners were awarded certificates, and all those who were a little less lucky this year were awarded memorable prizes and awards. The
Country Snapshot: Hong Kong; Overview of the consumer payments market in Hong Ko …
Summary Hong Kong represents a mature payment card market in Asia, with 25 million payment cards in issue and a population of over 7 million. Despite a high card per customer ratio, Hong Kong is expected to see mild growth in both card numbers and the value of transactions in the coming years. Key Findings – Pay-later cards are the fastest growing payment card segment in Hong Kong, mostly driven by the popularity
Equities First Holdings Hong Kong Limited Receives Reconfirmation of Hong Kong M …
The Hong Kong Money Lenders License was granted by the Hong Kong Eastern Magistrates Courts. Hong Kong, China -- Equities First Holdings Hong Kong Limited, the Asian subsidiary of Equities First Holdings, LLC (EFH, http://www.equitiesfirst.com) a global securities-based lender and a leader in alternative shareholder financing solutions, has received reconfirmation of its Hong Kong Money Lenders License from the Hong Kong Eastern Magistrates Courts. This license enables EFH to act as a