MP Bank
MP banki was an investment bank in Iceland that operated from 2003 until 2015 when it became part of Kvika Banki.[1] HistoryThe company was founded as MP Securities (Icelandic: MP Verðbréf hf) in 1999[2][3] by Margeir Pétursson[3] together with Sverrir Kristinsson and Ágústi Sindra Karlsson. [citation needed] They owned 10% each, while Margeir 80% shares. The bank received an investment banking license in 2003 and started to offered a comprehensive investment banking service. After the bank was licensed as an investment bank the name changed to MP Investment Bank (Icelandic: MP Fjárfestingarbanki hf). In 2008, the bank received a commercial banking license and changed its name to MP banki.[3] It became the only commercial bank in Iceland that did not collapse that year when the worldwide economic crisis hit the country.[3] MP banki and Straumur Investment Bank merged in July 2015 and the name changed to Kvika banki.[1] References
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