Iceland crisis


Kaupthing repays customers
October 20, 2008, 1:32 pm
Filed under: banks, Finland, Iceland | Tags: , , ,

Iceland’s biggest bank Kaupthing, which was nationalised earlier this month, will borrow money from three banks in Finland to repay deposits to customers there, the Finnish financial supervisory agency said on Monday.

‘Nordea Bank Finland, OP-Pohjola Group and Sampo Bank have agreed on a fixed period financing to enable the Kaupthing Bank’s Finnish branch to pay its customers back their deposits with interest,’ the agency said in a statement.

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