Glitnir today begins banking operations in Finland.
The Nordic financial group bought the Helsinki based FIM Group in March earlier this year which has since expanded its services to also include banking.
In August the Finnish Financial Supervision Authority granted FIM Securities Ltd, a subisidary of the FIM Group, the authority to operate as a credit institution and the right to act as a Finnish deposit bank. The company will now operate under the name of Glitnir Bank Ltd, dropping the name FIM Securities Ltd as of this week.
The new bank is a member of the Deposit Guarantee Fund and deposits in Glitnir Bank will be covered by the Finnish deposit guarantee. Pekka Väisänen will act as the CEO of both the FIM Group and Glitnir Bank.
Teri Heilala, Head of Retail Banking, said, “In the future, we will focus especially on interesting investment solutions, such as various deposit products and credit alternatives, which help increase our clients’ wealth. For now, we do not offer mortgage loans, but Glitnir Group’s international know-how and extensive product and service portfolio enables us to grow Glitnir Bank product offering in the future.”
An account at Glitnir Bank can be opened online from today and at all Glitnir offices.