Thursday, October 09, 2008

ING Direct has acquired the savings customers of Kaupthing Edge UK

KaupthingEdge is the largest Iceland bank, with £50k deposit guarantee by UK has got their customer saving deposit acquired by ING Direct. KaupthingEdge offered attactive interest as they don't have any branch in UK. I'd withdrawed my saving from this bank as I rather put my money in a UK bank as a cautious move.

The government's decision to take control of Kaupthing, the country's leading bank, which has assets and debts across the continent, means that the Financial Services Authority now has control of all three of the country's major banks. The other two, Landsbanki and Glitnir, are in receivership. - AP

For futher reading, Iceland suspends stock trading, creates new bank

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