Hitt og þetta 21. ágúst 2006

(IFN) Iceland?s MP Investment bank 1H profit jumps to ISK615mln

Reykjavik (IFN) The privately held MP Investment Bank reported that profits for the first six months of 2006 amounted to ISK615 million (EUR6.8 million), compared to ISK345 (EUR3.8 million) in the same period in 2005, the bank announced on Monday.

Earnings before interest and taxes amounted to ISK1.1 billion, a 89% rise from the same period in 2005.

The bank's operations were successful in the first half, despite difficult conditions in the domestic financial environment, in light of the situation the bank decided to reduce the banks' domestic balance sheet and expand foreign operations, the bank said.


Icelandic Financial News (IFN) is available on Factiva, a joint venture between Reuters and Dow Jones Newswires, FT.COM, LexisNexis, Comtex, Gale and Thomson via the Nordic Business Report.