Audur Capital, the uniquely female-focused capital company in Iceland is beating the credit crunch due, at least in part, to their feminine approach to business, the company believes.

In a press release, Audur Capital says it remains unaffected by the global financial crisis: “Audur Capital is a securities company (not a bank). The recent developments have not affected our operations. Our capital base remains strong. We are equity financed and debt free.”

One does not need to be a woman to work at Audur, but the company founders are women and the vast majority of staff members are too. Since gaining its operating licence in April this year, Audur has concentrated on a debt-free, long-term business style – in other words a female business style, the company argues.

In a sign that Audur’s tactics are working well in the current economic crisis, the company is reported to be in talks concerning the purchase of Kaupthing Savings Bank, a daughter company of Kaupthing Bank.

In a further sign of demographic change in Iceland’s financial markets, it has been revealed that the heads of both New Glitnir and New Landsbanki will be female.

The banks’ new chief executives were both promoted from within the ranks of the failed banks: Elin Sigfusdottir has been head of corporate banking at Landsbanki since 2003 and Birna Einarsdóttir became head of domestic commercial banking at Glitnir last summer.

The government owners of the banks clearly believe they have chosen the right people for the job; and some commentators are even intimating that the women have been employed to clean up the male-created mess.

Either way, women in Iceland are maintaining and building on the strong reputation gained over centuries.