SPRON into Kaupthing

For years it was only a question of when the two would become one but the circumstances could hardly have been predicted by many. 

SPRON, Reykjavik’s Savings & Loan has been taken over by the Financial Authorities and the customers transferred to Kaupthing. 

The IceBank central processing unit will be moved to the Central Bank of Iceland. Altogether six Savings & Loans asked for assistance from the state, including BYR where its owners paid themselves extraordinary dividends last year. 

The minister of commerce predicts more unemployment to come out of the financial sector as a result.


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