The Annual General Meeting of Landsbankinn for 2011 was held on 30 April 2012. Normal business was conducted at the meeting. The members of the Board of Directors were re-elected and proposals submitted to the meeting were approved. No dividends will be paid out for the operating year, instead the profit will be added to the Bank's equity as in recent years.
At the meeting, the Chairman of the Board and the CEO discussed the Bank's operations in the past year and addressed issues which the Bank's will be faced with in the near future.
In his address, Gunnar Helgi Hálfdánarson Chairman of the Board of Directors of Landsbankinn, said that the year had been favourable for the Bank as the Bank's financial statements revealed.
The Chairman commented on the fact that there are still many unresolved issues which cause uncertainty such as the recalculation of currency loans following the judgement recently passed by the Supreme Court. He discussed conflicts over the future arrangement of the management of fisheries and the lack of credibility faced by the Icelandic currency. The Chairman also discussed the capital controls, and said that experience has shown that once capital controls were imposed they would be difficult to lift, and that they would in all probability be a hindrance to the nation's prosperity for years to come.
Results of the AGM 2012
Consolidated Financial Statements 2011
Landsbankinn hf. Austurstræti 11, 155 Reykjavík, Reg. No. 471008-0280
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