MP Bank
Encyclopedia
MP Bank is an investment bank
(since 2003) and a commercial bank
(since 2008) which operates in Iceland
. Originally it was founded as MP Securities (Icelandic
: MP Verðbréf hf) before the company began banking. After the bank was licenced as an investment bank the name changed to MP Investment Bank (Icelandic
: MP Fjárfestingarbanki hf) and with its commercial banking licence it reached its contemporary name.
In 2007 MP Bank started to work in Lithuania
.
Investment banking
An investment bank is a financial institution that assists individuals, corporations and governments in raising capital by underwriting and/or acting as the client's agent in the issuance of securities...
(since 2003) and a commercial bank
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
(since 2008) which operates in Iceland
Iceland
Iceland , described as the Republic of Iceland, is a Nordic and European island country in the North Atlantic Ocean, on the Mid-Atlantic Ridge. Iceland also refers to the main island of the country, which contains almost all the population and almost all the land area. The country has a population...
. Originally it was founded as MP Securities (Icelandic
Icelandic language
Icelandic is a North Germanic language, the main language of Iceland. Its closest relative is Faroese.Icelandic is an Indo-European language belonging to the North Germanic or Nordic branch of the Germanic languages. Historically, it was the westernmost of the Indo-European languages prior to the...
: MP Verðbréf hf) before the company began banking. After the bank was licenced as an investment bank the name changed to MP Investment Bank (Icelandic
Icelandic language
Icelandic is a North Germanic language, the main language of Iceland. Its closest relative is Faroese.Icelandic is an Indo-European language belonging to the North Germanic or Nordic branch of the Germanic languages. Historically, it was the westernmost of the Indo-European languages prior to the...
: MP Fjárfestingarbanki hf) and with its commercial banking licence it reached its contemporary name.
In 2007 MP Bank started to work in Lithuania
Lithuania
Lithuania , officially the Republic of Lithuania is a country in Northern Europe, the biggest of the three Baltic states. It is situated along the southeastern shore of the Baltic Sea, whereby to the west lie Sweden and Denmark...
.