Consultants Deliver Valuations of New Banks' Assets


Deloitte LLP has concluded its provisional valuation of the assets transferred from the old banks to comprise the balance sheets of New Kaupthing Bank, NBI and Íslandsbanki.  In tandem with this work, Oliver Wyman has reviewed the process for each individual bank. Both companies are now finalising the valuations, which are expected to be available in their ultimate form next week.

About the reports
The reports consist of two parts. The former describes the methodology applied and assumptions made in locating the value of assets transferred from the old banks within a specific range. The latter part provides the valuations of individual assets. This section contains sensitive information and is strictly confidential.

Information disclosure
The valuation data must first be presented to the contracting parties themselves, giving them an opportunity to acquaint themselves thoroughly with it and form their own opinions. Once agreements have been concluded, a summary of the material contained in the reports will be made public.  The reports include, for instance, price-sensitive information which cannot be made public at this time.

Once the final conclusions of the valuations are available, the procedure will be as follows: 

  • Firstly, the former section of each report will be delivered to the respective new bank and its counterparty, i.e. the Resolution Committee of the old bank, together with the parties’ advisors.
  • Once this is accomplished, individual creditors may request information from the Resolution Committees.
  • The next step will be to give the advisors of the old banks, who are acting on behalf of creditors’, an opportunity to acquaint themselves with the substance of the latter part of the reports, while ensuring full confidentiality is maintained, to enable them to examine individual details. 
  • Following this, a meeting will be held with the contracting parties and their advisors to discuss technical aspects of the valuation. This meeting is tentatively scheduled for the end of April.
  • Finally, a meeting will be held with a wider group of creditors, giving them an opportunity to make comments and express their opinions.  

For further press information please contact Sigurdur G. Valgeirsson,, tel.: +354 525 2700 or mobile: +354 840 3861.


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