Kaupthing Moves Up Top World Banks Ladder

(PRWEB) July 18, 2007 -- Kaupthing Bank is now in the 142nd position of the top banks in the world, according to the annual ranking of the international finance magazine "The Banker". Last year Kaupthing Bank was in 177th position and it has therefore jumped 35 places in just one year.

The rankings are based on the definition of Tier 1 capital as defined by Basel's Bank for International Settlements (BIS). Some of the banks below Kaupthing on the list include DEPFA Bank in Ireland (152), Bradford & Bingley in the UK (189) and Caixa Catalunya in Spain (196). Bank of America Corp ranks as the top bank in the world, followed by Citigroup in second position and HSBC Holdings in third.

The best 10 banks according to The Banker are:

1 Bank of America Corp

2 Citigroup

3 HSBC Holdings

4 Crédit Agricole Group

5 JP Morgan Chase & Co

6 Mitsubishi UFJ Financial Group

7 ICBC

8 Royal Bank of Scotland

9 Bank of China

10 Santander Central Hispano

About Kaupthing Bank

Kaupthing Bank is a northern European bank offering integrated financial services to companies, institutional investors and individuals. These services include corporate banking, investment banking, capital markets services, asset management and comprehensive wealth management for private banking clients. The Bank operates in ten countries, including all the Nordic countries, Luxembourg, Switzerland, the UK and the US. In addition the Bank operates a retail franchise in Iceland, where it is headquartered.

Kaupthing Bank is currently among the seven largest banks in the Nordic region in terms of market capitalization. Through sound organic growth and strategic acquisitions like the UK bank Singer & Friedlander in 2005 and FIH Erhvervsbank in Denmark in 2004, Kaupthing Bank has fortified its position to provide outstanding services to its client base in the UK, the Nordic countries and elsewhere in northern Europe. The Bank has 2,719 employees and total assets of EUR 42.9 billion (as of 31 December 2006).

For further information about Kaupthing visit the bank's website, www.kaupthing.com.

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