I was checking out the Landsbanki / Icesave websites and found this.
It beggars belief. You would think it was going from strength to strength. Date: July 29, 2008 Lying bastards.
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659&y=0&p=1 Some highlights:Net After-tax Profit ISK 29.5 billion Return on Equity (ROE) 35%
Highlights of the Interim Financial Statements of Landsbanki Íslands hf. for the first six months of 2008 Pre-tax profit for the first six months of 2008 amounted to ISK 31.1 billion (EUR 285m) The bank's after-tax profit was ISK 29.5bn (EUR
270m). After-tax ROE was 35%. At the end of June 2008, the bank's capital ratio (CAD rules) was 10.3%.The group's core income (net interest income plus fees and commissions) was ISK 58bn (EUR 531m), an increase of close to 32% over 6M 2007.Core income from operations outside of Iceland amounted to ISK 33.9bn (EUR 310m) during the first half of 2008, equivalent to 59% of group core income. Trading gains and investment income amounted to ISK 19.8bn (EUR 181m), compared to the 6M 2007 figure of ISK 14.8bn.The bank's total assets amounted to ISK 3,970bn (EUR 31.9bn) at the end of June 2008 compared with ISK
3,058bn (EUR 33.4bn) at the beginning of 2008. Total assets have decreased in EUR terms by 4.4% during H1 2008. The bank's liquidity has continued strong, with liquid assets amounting to EUR 7.8bn at the end of June 2008. Highlights of Q2 2008: The bank's after-tax profit in Q2 2008 was ISK 12.0bn (EUR 101m).Net interest income in Q2 were ISK 20.9bn (EUR 176m).Net fees and commissions were ISK 10.9bn (EUR 92m), the same figure as in Q1 2008. The bank's fees and commissions were at a record high in both these quarters.CEO Sigurjón Þ. Árnason: "Landsbanki's H1 financial results are very satisfying. This is not least significant in view of the challenging circumstances prevailing on international financial markets. The group's core income has increased by 32% over the first half of last year, and ROE for the same period was 35%.