Iceland review - 2006, Blaðsíða 107

104 BUSINESS SUPPLEMENT BUSINESS SUPPLEMENT 105
Jón Didrik Jónsson is Glitnir’s Managing
Director of Corporate and Investment
banking which is responsible for Glitnir´s
growth outside its home markets.
How will Glitnir structure its continuing
growth?
As mentioned above, Glitnir’s expansion rests
on three principal pillars. Firstly, it rests on
Glitnir’s expertise in certain product categories,
particularly in northern Europe. Most prominent
among these categories are Leveraged
Finance, Project Financing and Private Banking,
focusing primarily on the Nordic region.
Secondly, the expansion of Glitnir rests on its
local understanding of the countries involved.
One of the principal functions of Glitnir’s new
offices is to support customers in their own
expansion into the markets where Glitnir has
a presence. Customers from the Bank’s two
home markets, Iceland and Norway, who wish
to take advantage of Glitnir’s knowledge of
the regions in question often seek out Glitnir
for services in consultancy, financing and
even direct participation in certain ventures.
Thirdly, Glitnir’s advances are based on the
extensive and specialized knowledge of three
niche market segments: the food sector,
where the Bank facilitates expansions into
new markets through specialized knowledge
and an extensive contact network in the
seafood industry, sustainable energy, where
the Bank draws on its own knowledge and the
extensive Icelandic experience and know-how
in the fields of geothermal energy and small
hydropower plants and the shipping industry,
where the Bank focuses on offshore supply
vessels for the oil industry. Glitnir possesses
an in-depth knowledge of the services these
markets require, and this knowledge benefits
Glitnir’s customers across the world.”
How does Glitnir work with shipping
industry and sustainable energy?
For some time, Glitnir has enjoyed a special
position with regard to fisheries. This unique
position has been strengthened year by year. In
the shipping industry, and particularly in financing
of supply vessels in the oil industry, Glitnir’s
position has also been growing steadily stronger.
Glitnir is now one of the three leading banks in
the world in this field. Services to sustainable
energy – environmentally friendly energy – is
a niche that we are developingHowever, there
are attractive opportunities ahead and the
exhaustive preparations already undertaken
will pay off eventually based on our and
our customers experience from our home
markets.
Glitnir´s role is to deliver on this vision by taking
action as a focused player in niche segments
and providing specialized and tailored products.
We are entering 2006 at full speed with the
strategy, structure, talent and pipelines needed
to deliver on its vision: strategic growth.
Glitnir´s Corporate and Investment banking unit
is now organized into three hubs responsible
for geographic markets outside Glitnir’s home
markets, and four product units: Structured
Finance (comprising Leveraged Finance and
Project Finance), Corporate Finance, Equity
Investments and Private Banking, which works
across all three hubs.
What are your plans in Norway?
Glitnir has defined Norway and Iceland as
its home markets, and the Bank’s ambitions
in the Norwegian market are high. The Bank
will continue to strengthen its position in the
Norwegian market, coordinate its operations
and be alert to new opportunities.
Glitnir’s operational banking activities in
Norway are mainly conducted by BNbank and
KredittBanken, whose name was changed to
Glitnir in March.
BUSINESS SUPPLEMENT
Glitnir’s expansion strategy rests on three
principal pillars: expertise in certain product
categories, local understanding of the
countries involved and on the extensive and
specialized knowledge of three niche market
segments: the food sector, sustainable
energy and the shipping industry.
THE GLITNIR STRATEGY: STAY FOCUSED