Straumur Investment Bank
The Straumur - Burdaras Investment Bank hf. (Icelandic Straumur - Burdaras Fjárfestingabanki ) was an Icelandic investment bank based in Reykjavík, which was closed on 27 March 2009 by the Icelandic Financial Supervisory Authority.
Straumur was the fourth largest bank in Iceland. She offered business activities with all financial services in Northern and Central Europe. Deposits as of the end of the second quarter of 2008, 6.2 billion EUR. The Straumur Investment Bank was active in ten European countries, including Britain, Denmark, Sweden, Finland and the Czech Republic.
In September 2008 Straumur took over because of the insolvency of the third largest British tour operator, the XL Leisure Group Plc., All business divisions of XL Airways Germany and XL Airways France.
On 9 March 2009, the Icelandic Financial Supervisory Authority nationalized the investment bank Straumur and closed on 27 March 2009.