Assets

In the wake of the restructuring of the Icelandic banking system, Icelandic State Financial Investments (ISFI) has, in accordance with Act no. 88/2009, been entrusted with the task of managing the state’s holdings in financial undertakings.

With a letter from the Minister of Finance, dated 4 January 2010, ISFI was entrusted with the task of managing the state’s holdings in Arion Bank (13%), Íslandsbanki (5%) and Landsbanki (NBI hf) (81,3%). On 31 August 2010 the ISFI assumed the ownership role regarding the state‘s holdings in the savings bank Sparisjóður Norðfjarðar (49,5%), followed by the savings banks Sparisjóður Bolungarvíkur (90,9%) and Sparisjóður Vestmannaeyja (55,3%) on 16 December 2010 and Sparisjóður Svarfdæla (90%) and Sparisjóður Þórshafnar og nágrennis (75,9%) on 5 January 2011.

---