Nordic Business Report-March 20, 2006-Landsbanki Islands hf comments on media reports on Iceland's banking system
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Icelandic bank Landsbanki Islands hf issued on Friday (17 March) a statement regarding recent international media coverage and analyses of the Icelandic economy and the banking system.
Landsbanki said that it has a strong liquidity position and that the remaining repayment of long-term loans maturing in 2006 is EUR1.1bn, and EUR2.0bn in 2007.
Of Landsbanki's current liquid assets EUR3.2bn are in cash and liquid securities.
Landsbanki said that the repayment profile of its long-term debt was comparable to that of its major Nordic peers.
Landsbanki also said that its core income has continuously improved, particularly since 2003.
Last week rating agency Standard & Poor's affirmed the Republic of Iceland's 'AA-/A-1+' foreign currency ratings on healthy public finances, with a stable outlook.
One euro (EUR) is worth approximately 0.69 British pounds (GBP).
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