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http://www.marketwatch.com/news/story/land...}&dist=hppr

http://www.efinancialnews.com/homepage/con...0737/restricted

http://www.landsbanki.is/english/aboutland...s/?NewsID=12659

"Iceland’s Landsbanki has delivered a “satisfying” set of results in the first half of the year, demonstrating robust liquidity levels and capital ratios and its resilience to the challenging market environment with a 12% rise in net profits on a year earlier" Pre tax profit of EUR 270m

I thought Icelandic banks were meant to be going bust according to you guys? With all the bad publicity and UK hedge funds trying to bring the Icelandic banking system down over the past 12 months these are impressive results. Esp when you compare them to UK banks like Bradford and Bingley who lost £8 million in their first quarter.

I think I will keep my 100k with Icesave!

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I think I will keep my 100k with Icesave!

good luck with that - i think i detect an icelandic bank VI here - perhaps the mods could let us know whether the IP address of the OP is with icesave or 'kaput-thing' :lol:

i have some cash in icesave & can't wait until i can pull it out - only six weeks to wait IIRC - <cgnao mode> hopefully the entire western banking system won't collapse before then! </cgnao mode>

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with a 12% rise in net profits

Maybe they just offer a good rate of interest to depositors and then lend that money out without making their money by securitising their 'assets' into w@nkobonds and selling them to each other only to have to write them down by X Bn a couple of years later.

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http://www.marketwatch.com/news/story/land...}&dist=hppr

http://www.efinancialnews.com/homepage/con...0737/restricted

http://www.landsbanki.is/english/aboutland...s/?NewsID=12659

"Iceland’s Landsbanki has delivered a “satisfying” set of results in the first half of the year, demonstrating robust liquidity levels and capital ratios and its resilience to the challenging market environment with a 12% rise in net profits on a year earlier" Pre tax profit of EUR 270m

I thought Icelandic banks were meant to be going bust according to you guys? With all the bad publicity and UK hedge funds trying to bring the Icelandic banking system down over the past 12 months these are impressive results. Esp when you compare them to UK banks like Bradford and Bingley who lost £8 million in their first quarter.

I think I will keep my 100k with Icesave!

Well, that is great news. 100k with Icesave - is that 100k Icelandic Krona? About £800? A month ago that was worth 10% more. Still if the Icelandic economy is so rosy, then we can expect you to be back in profit on the exchange rate pretty soon.

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Well, that is great news. 100k with Icesave - is that 100k Icelandic Krona? About £800? A month ago that was worth 10% more. Still if the Icelandic economy is so rosy, then we can expect you to be back in profit on the exchange rate pretty soon.

MeoWwwwwww .

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According to the press the Icelandic banking system is on the brink of collapse.

Time will tell who's right, no one has hindsight only the ability to guess.

Of course you believe everything you ready in the UK press? You have to look at the facts. If the results were bad I would be the first one pulling my money out. None of them have been involved in the USA sub prime unlike our clever UK banks. I'd be more worried having money in Bradford & Bingley, Alliance & Leicester or one of the many others which are posting record losses and the crunch is only kicking off now.

Landsbanki's is a diverse business around the world and not reliant on what happens in Iceland so its not overly effected by the drop of the Krona, which has leveled off now.

Like the other guy said, only time will tell. I choose to draw my own conclusions from their actual results. The trouble is people on here only want to hear bad news. The results are good news with anyone saving with Icesave (over 350,000 people in the UK).

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http://www.marketwatch.com/news/story/land...}&dist=hppr

http://www.efinancialnews.com/homepage/con...0737/restricted

http://www.landsbanki.is/english/aboutland...s/?NewsID=12659

"Iceland’s Landsbanki has delivered a “satisfying” set of results in the first half of the year, demonstrating robust liquidity levels and capital ratios and its resilience to the challenging market environment with a 12% rise in net profits on a year earlier" Pre tax profit of EUR 270m

I thought Icelandic banks were meant to be going bust according to you guys? With all the bad publicity and UK hedge funds trying to bring the Icelandic banking system down over the past 12 months these are impressive results. Esp when you compare them to UK banks like Bradford and Bingley who lost £8 million in their first quarter.

I think I will keep my 100k with Icesave!

and ...

Of course you believe everything you ready in the UK press? You have to look at the facts. If the results were bad I would be the first one pulling my money out. None of them have been involved in the USA sub prime unlike our clever UK banks. I'd be more worried having money in Bradford & Bingley, Alliance & Leicester or one of the many others which are posting record losses and the crunch is only kicking off now.

Landsbanki's is a diverse business around the world and not reliant on what happens in Iceland so its not overly effected by the drop of the Krona, which has leveled off now.

Like the other guy said, only time will tell. I choose to draw my own conclusions from their actual results. The trouble is people on here only want to hear bad news. The results are good news with anyone saving with Icesave (over 350,000 people in the UK).

A simple question.

Do you think UK banks' losses are due to :

A ) operating losses;

B ) write downs of non-performing loans.

Another question:

Does this question mean anything to you?

Another question.

Which UK bank had the fastest growing operating profits for 2007?

Another question.

How significant is operating profit as a measure of financial strength?

Another question.

How do you explain Northern Rock?

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Do you think UK banks' losses are due to :

A ) operating losses;

B ) write downs of non-performing loans.

Bee!

Which UK bank had the fastest growing operating profits for 2007?

I bet this is going to end up being Northern Crock. Well, that's the answer I'd give in a pub quiz anyway. (Ockley Society* Spring Quiz 2008 Winners... c'mon!)

How significant is operating profit as a measure of financial strength?

In terms of banks, dunno really. In terms of other businesses, "it depends".

How do you explain Northern Rock?

See two of the previous answers.

* Note : If there are any members of the Ockley Society reading this, yer quiz is absolutely superb.

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I think I will keep my 100k with Icesave!

Sorry to hve to break this to you but this phenomena is called the break-up boom. It is the false reporting that usually hapens when inflation is very high in that country.

Take Zimbabwe for instance - every one of their companies and banks will be reporting big paper profits at the moment - the trouble is the paper is worthless. It may not be as extreem in Iceland but it is still a contributing factor (google their IR's and rate of inflation to see why).

HAL

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Of course you believe everything you ready in the UK press? You have to look at the facts. If the results were bad I would be the first one pulling my money out. None of them have been involved in the USA sub prime unlike our clever UK banks. I'd be more worried having money in Bradford & Bingley, Alliance & Leicester or one of the many others which are posting record losses and the crunch is only kicking off now.

Landsbanki's is a diverse business around the world and not reliant on what happens in Iceland so its not overly effected by the drop of the Krona, which has leveled off now.

Like the other guy said, only time will tell. I choose to draw my own conclusions from their actual results. The trouble is people on here only want to hear bad news. The results are good news with anyone saving with Icesave (over 350,000 people in the UK).

So you buy into the theory that the credit spreads of the Icelandic banks have gone wide again is because hedge funds are pushing out the illiquid spreads rather than the inherent risk in the banks and the ability of Iceland to bail them out if it goes wrong (Icelandic CDS spreads are around 300bps compared to UK 15bps)?

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Guest absolutezero
Sorry to hve to break this to you but this phenomena is called the break-up boom. It is the false reporting that usually hapens when inflation is very high in that country.

I wonder when we will see this break up boom in the UK.... :ph34r:

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I recall reading somewhere that in the event of a bank collapse their govt is at least better set to deal with it. ie not running huge unsustainable deficits. Not sure this would sit to well given the tiny size of the country though.

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I recall reading somewhere that in the event of a bank collapse their govt is at least better set to deal with it. ie not running huge unsustainable deficits. Not sure this would sit to well given the tiny size of the country though.

Are you talking about Iceland? Can you provide a link please? This goes against what the markets are showing

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Are you talking about Iceland? Can you provide a link please? This goes against what the markets are showing

I probably read it on here!

Actually IIRC it may have been an article on thisismoney, i shall scour their website.

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Of course you believe everything you ready in the UK press? You have to look at the facts. If the results were bad I would be the first one pulling my money out. None of them have been involved in the USA sub prime unlike our clever UK banks. I'd be more worried having money in Bradford & Bingley, Alliance & Leicester or one of the many others which are posting record losses and the crunch is only kicking off now.

Landsbanki's is a diverse business around the world and not reliant on what happens in Iceland so its not overly effected by the drop of the Krona, which has leveled off now.

Like the other guy said, only time will tell. I choose to draw my own conclusions from their actual results. The trouble is people on here only want to hear bad news. The results are good news with anyone saving with Icesave (over 350,000 people in the UK).

I really do hope you came to your senses

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Just in the nick of time. :o

The question is, at what tine was the CHAPS ordered? He posted after 6pm. I doubt it would be authorized until this morning, I would be interested to know if the money is in the account yet. I'm 99% sure he's fine, I hope so.

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I ordered my funds 22K from Kaupthing Edge 8.20am this morning, not reached my normal bank yet though - CHAPS....Still hopeful :rolleyes:

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  • 401 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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