Published: 2008-10-13 12:16:37 CEST
Kvika banki hf.
Company Announcement
- MP Investment Bank hf. granted commercial banking license
The Icelandic Financial Supervisory Authority (FME) has granted MP
Investment
Bank hf. a commercial banking license. The Bank is not planning to
use this
extended license to make substantial changes to its operations in the
near
future. The license will enable the Bank to accept deposits in its
current
markets and will immediately do so in Iceland. 

Deposits with MP
Investment Bank are granted the same security as deposits with
other financial
institutions. The Bank refers to the declaration of the
Icelandic Government
from October 6, 2008 regarding a Sovereign Guarantee of
deposits. 

The
commercial banking license took effect on October 10, 2008 and is
initially
granted to December 31, 2008. 

MP Investment Bank was
incorporated in 1999 and was operating under an
investment banking license
from 2004. 

The Board of Directors and the CEO of MP Investment Bank are
extremely thankful
that the bank is trusted during very difficult times for
the Icelandic economy. 

For further information contact Styrmir Þór
Bragason, CEO of MP Investment
Bank. Telephone number: +354 540 3200.


Information regarding the Bank can be accessed on the Bank's web
site,
www.mp.is.