NBI (bank)
Encyclopedia
NBI hf. is a state-run bank
which operates in Iceland
. The organisation was created in October 2008 after the government took control of the insolvent Landsbanki
, formerly one of the three largest banks in Iceland. With the creation of the new company, around 500 jobs were lost as employee numbers were cut from 1,500 to 1,000. This is due to the radical reorganisation of the bank, which will focus operations on recovering the former Landsbanki.
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
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...
. The organisation was created in October 2008 after the government took control of the insolvent Landsbanki
Landsbanki
Landsbanki, also commonly known as Landsbankinn in Iceland, is a private Icelandic bank with international operations...
, formerly one of the three largest banks in Iceland. With the creation of the new company, around 500 jobs were lost as employee numbers were cut from 1,500 to 1,000. This is due to the radical reorganisation of the bank, which will focus operations on recovering the former Landsbanki.