History

2012

On April 11th MP Bank launched a new brand image. The bank's new slogan is "MP bank is the bank of business".

Launch of leasing activities on March 23rd. Operates under a seperate brand, Lykill. Offering hire purchase and car loans for corporate and private customers.

Merger of ALFA Securities hf. and MP Bank verified by the Icelandic FSA on March 19th.

2011

MP bank announced the transfer of the provision of financial intermediation and portfolio management services of its clients to Finasta Group of companies due to shift in strategy.

MP bank aquires ALFA Securities hf., a partner of Credit Suisse in Iceland. ALFA's CEO, Sigurður Atli Jónsson, becomes CEO of MP Bank from July 1st.

11th of April a contract for the sale of MP bank's operations in Iceland and Lithuania was approved at the bank's shareholder meeting. Over 40 new shareholders invest 5.5 billion ISK in new shares. New board members are appointed.

2010

In December the bank introduced new electronic VISA giftcards and a new piggy bank for children called Mosi. Mosi was designed by the Icelandic design company Tulipop for MP Bank.

In November the bank started issuing new Icelandic electronic identification in cooperation with Auðkenni.

In June 2010 new shareholders and employees were recruited to MP Bank´s fund management company. The name of the company was changed to Jupiter Fund Management.  

8th February MP Bank moves to new headquarters in Armuli 13a and opens a second retail banking branch on the ground floor.

2009

Gunnar Karl Gudmundsson becomes CEO of MP Bank in June 2009. Gunnar was formerly CEO of Skeljungur (Shell Iceland).

The 10 year anniversary of the bank was celebrated with the opening of the first retail banking branch, headed by Olafur Haraldsson.

In April MP Bank launched a new online bank open 24/7 providing services for both retail- and investment banking.

2008

On October 10th, the Icelandic Financial Supervisory Authority (FME) granted MP Investment Bank hf. a commercial banking licence. At a shareholders´ meeting on November 14th,  the name of the bank was changed to MP Banki hf. After receiving its commercial banking licence, MP Bank negotiated access to the systems of the Icelandic Banks Data Centre (Reiknistofa bankanna). The Bank also became part of the Icelandic Central Bank´s RTGS system and the netting system of Fjölgreiðslulmiðlun.

MP Investment Bank hf. appointed Vygandas Jūras as Head of MP Investment Bank hf. Baltic Branch.  The Baltic Branch moved its location to a new office building, located in Vilniaus vartai, a prestigious neighbourhood of the city.

At the end of 2008, MP Bank was granted a licence to receive contributions to third-pillar voluntary private pension savings. MP Bank will offer two pre-designed portfolios in 1st quarter 2009.

2007

In January 2007, MP Investment Bank opened a branch office in Lithuania for the purpose of providing investors in the Baltic states with financial services. At the beginning of the year, MP Investment Bank established the investment company Aurora Holding hf. which will invest in the Baltic states and in Central and Eastern Europe. February saw the establishment of a trading desk which specialises in consultancy relating to trading in equities listed on the stock exchanges in Eastern Europe. The trading desk is located at the headquarters of MP Investment Bank in Reykjavík. At the end of February, the Bank was granted direct membership to the stock exchanges in Helsinki, Copenhagen, Oslo and Stockholm. MP Investment Bank became, thereby, the first European entity with direct membership to all the OMX stock exchanges in the Nordic countries and the Baltic states. In October, MP Pension Fund Baltic was launched in Lithuania. MP Pension Fund Baltic is a subsidiary of MP Investment Bank hf. and will offer the public in Lithuania supplementary pension savings plans. In the second half of 2007, MP Investment Bank received a licence from the Icelandic Financial Supervisory Authority and subsequently established MP Management Company, which is to operate Mutual Funds and Investment Funds. The first funds to be established were a money market fund and a corporate bond fund.

2006

In May 2006 Mr. Styrmir Þór Bragason was appointed Managing Director of MP Investment Bank. The Bank, together with other Icelandic investors, bought 92.5% of the total shares of the commercial Bank Lviv in western Ukraine. On July 17, MP Investment Bank was approved as a member of the OMX Baltic Stock Exchanges and as such gained access to trading on the exchanges in Tallinn, Riga and Vilnius. MP Investment Bank is the first member from Iceland on the Baltic exchanges and became the 12th pan-Baltic member. The Bank shares the same trading system with all OMX exchanges and Oslo Stock Exchange, which gives the Bank a ready access to most foreign markets. Furthermore and pursuant to Article 21 of the Banking Consolidation Directive (2000/12EC), the Bank has a full operating licence as an investment bank in all the Baltic and Nordic countries.

2005

MP Investment Bank's rapid growth continued throughout the year 2005. By year-end, total assets amounted to ISK 2.55 billion, having increased by 103% during the year. The Bank's equity totalled ISK 3.35 billion. The Bank opened a branch in London where its Credit Department is located. As a result, the Bank has never been so well positioned to undertake large, challenging projects. MP Investment Bank's aggressive policy in foreign markets has proven successful as well and the Bank has placed an increased emphasis on incursions into foreign markets in 2006.

2004

In 2004 MP Investment Bank became active in the Municipal Bond Market with increased competition pressuring yields downward. In May the Bank became the Primary Dealer in Government Securities for the National Debt Agency and in June became a Market Maker in the housing bonds market (HFF-Bonds) for the Housing Financing Fund. The largest ISK bond issue so far of an Icelandic company took place when MP Investment Bank underwrote and sold USD 130.7 million for Meiður ehf. Furthermore, the Bank sold its shares in a number of limited liability companies at a significant profit. Among these were its holding in Atorka, Og Vodafone, Islandsbanki (now Glitnir) and Landsbanki. In September a holding company associated with MP Investment Bank was placed in Lithuania's capital of Vilnius and began operations in Central and Eastern Europe with four employees.

2003

In 2003 Mr. Sigurður Valtýsson became Managing Director and SPV Savings Bank became a shareholder. On October 15th, 2003 the Financial Supervisory Authority granted MP Securities a license for investment bank activities and subsequently the name was changed to MP Investment Bank hf. (MP Fjárfestingarbanki hf.).

2002

Share capital was increased again in 2002. MP Securities began to provide international private banking services and at the end of 2002 it became a partner in a large investment company that was named Atorka.

2001

The share capital was increased in 2001. During this year MP Securities set its sights on becoming an investment bank.

2000

In 2000 a Corporate Division was established, where the main projects were share offerings, valuations and consulting. Since its foundation the company has been majority owned by Margeir Petursson. Auður Finnbogadóttir became the sole Managing Director of the company and Margeir Pétursson became Chairman of the Board of Directors. On September 1st, 2000 MP Securities moved to its new (and present) premises at Skipholt 50d in Reykjavík, and the number of employees increased to 15.

1999

MP Investment Bank hf. traces its origins to 1999 when Margeir Petursson established MP Securities with an initial share capital of USD 1,6 million. Margeir Pétursson and Auður Finnbogadóttir were co-Managing Directors of the company. The first Chairman of the Board of Directors was Ágúst Sindri Karlsson, an attorney. The company started out in a two-room office and actually managed to turn a healthy profit in the first year of operations. Initially there were five employees and the company focused on providing specialized asset management services as well as acting as a discount broker.