By Danielle Pamela Neben
In March 2017, the IMF issued a report on Iceland regarding the lifting of the currency controls and the potential impacts:
IMF Concluding Statement on Iceland
It it very interesting to note their recommendation of policies of high quality bank ownership, i.e. finding strategic buyers being both conservative and with a long term commitment to Iceland.
Having been a Member of the Board at Landsbankinn, I firmly believe this is achievable.
What is also encouraging is to see that Wellington Management recently invested 5,26% in N1, a leading fuel distributor in Iceland.
The banking sector has changed positively since the crisis:
The current bank shareholders, i.e. the Icelandic government and international investors, have clearly stated that they wish to list the banks - most likely with dual listings in Reykjavik and in Europe.
It is crucial that the Boards and CEOs at the banks invest in their Investor Relations strategies - with the aim to attract the ideal shareholders going forward.
Doing a gap analysis of the Investor Relations team and the strategy, and the execution thereof is crucial to attract these investors as there is a fierce competition for capital.
Maresías provides Investor Relations advisory services, where Danielle Neben led one of the top global IR programmes whilst at HSBC: from highlighting the issues from the sub-prime crisis leading to the financial crisis, and up to the successful $17 billion rights issue in early 2009. For more information, please feel free to contact us.