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In establishing Landsbanki, the Icelandic parliament hoped to boost monetary transactions and encourage the country’s nascent industries. Following its opening on 1 July 1886, the bank's first decades of operation were restricted by its limited financial capacity; it was little more than a savings and loan society. Following the turn of the 20th century, however, Icelandic society progressed and prospered as industrialisation finally made inroads, and the bank grew and developed in parallel to the nation. In the 1920s Landsbanki became Iceland's largest bank, and was made responsible for issuing its bank notes. After the issuing of bank notes was transferred to the newly established Central Bank of Iceland in 1961, Landsbanki continued to develop as a commercial bank, expanding its branch network in the ensuing decades. Liberalisation of financial services, beginning in 1986, opened up new opportunities, which the bank managed to take advantage of despite some economic adversity. In 1997, Landsbanki was incorporated as a limited-liability company, and the ensuing privatisation finally concluded in 2003. Landsbanki now operates as a privately owned bank, competing in a free market, with substantial international activities added to its traditional Icelandic operations. == 1886–1895: Banking as a sideline == Created by an Act of the Icelandic parliament, Althingi, Landsbanki Íslands commenced operation on 1 July 1886, when it opened on the street known as Baker’s Hill (Bakarabrekka), later called Bank Street (Bankastræti) in the centre of Reykjavík. The bank’s establishment was intended to boost monetary transactions and the country’s nascent industries. For most of the 19th century Iceland had neither a monetary institution nor financial services. Money could be sent to Denmark for safe custody, e.g. by purchasing state savings bonds. Loans could only be obtained, if at all, from well-off individuals, while merchants could only be convinced to loan goods on credit. The frequently heard complaint of a “money shortage” referred both to the lack of credit and a lack of currency to pay what could not be paid for in produce, such as stockfish, wool or butter. The establishment of savings societies alleviated the situation only slightly, as did loans made by the national treasury from its reserves; this was an emergency fund, intended to provide relief in times of difficulty or economic setbacks. But the country sorely needed a real bank, and no Danish banks were tempted to open a branch in Iceland. Danish experts advised instead that an Icelandic bank be established, and the recently re-established Icelandic parliament was quick to grasp the opportunity. The Act establishing Landsbanki Íslands entrusted the National Treasury to issue banknotes, which served as the bank’s funding. Although this was the era of banknotes backed by gold, Icelandic treasury notes had no such backing and could not be redeemed. They could, however, be used to pay taxes and other levies. Limiting note issuance kept the currency on par with gold-backed Danish notes, and managed to substantially improve the country’s shortage of cash. Lárus E. Sveinbjörnsson, a high court judge, worked part-time as the first managing director of the bank, as did its comptroller and cashier. The first spring after it opened, the Bank was augmented by the acquisition of the assets and goodwill of the Reykjavík Savings Bank (Sparisjóður Reykjavíkur), the largest in the country. By far the greatest share of the bank’s operating capital was invested in long-term mortgages; its only services consisted of accepting deposits and granting loans. The bank was a profit-making venture; its costs were low and its low-risk loans granted with a hefty interest rate spread. Soon it had managed to collect a sizeable reserve, but its impact was less than hoped for. Residents living outside of Reykjavík soon complained that there were no signs of the local branches promised in the parliamentary statute. The capital’s own citizens were far from satisfied with having the bank open only for several hours, two days a week and in 1889 daily opening hours were introduced. Two years later, the wages of the bank’s employees were raised to reflect their longer working hours, making them Iceland’s first banking professionals. In 1893 Lárus Sveinbjörnsson consequently returned to the High Court and a full-time managing director, Tryggvi Gunnarsson, was appointed. 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「History of Landsbanki」の詳細全文を読む スポンサード リンク
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