Straumur Investment Bank/MP Bank merger

Overview:

• Straumur Investment Bank and MP Bank have agreed on a merger.
• The combined entity (Kvika banki) will focus more on asset management and investment banking, according to a statement.
• Straumur was nationalised in 2009 following the financial crisis and undertook a composition with its creditors. The new bank was formed in 2011.
• MP Bank was formed as an investment bank in 2003, entering the commercial banking space in 2008.

Sam Duke - Editor