It has been decided that as of February 20, 2009, the new state-run Glitnir Bank will be known as Íslandsbanki, or the Bank of Iceland, which is also what it was called before it was re-branded as Glitnir a few years ago.
Glitnir headquarters in Reykjavík. Copyright: Iceland Photo Agency.
A statement from the bank’s new director Birna Einarsdóttir says that the decision had been made because the brand Glitnir was not reliable anymore, Fréttabladid reports.
The employees of new Glitnir were notified of changes to the bank’s operations yesterday that will take effect in the coming months. The cost involved in these changes will be kept as low as possible.