Established in 1832, the group, which also operated in mainland Denmark, encompassed retail, corporate and investment banking activities as well as real estate brokerage.

In 1992 it was transferred into a guarantor savings bank, and in 2002, it was converted to a public limited company.

[3] Trading in the company's shares and bonds was suspended on the news, and Eik Banki's listing on the Nasdaq OMX Iceland exchange was subsequently cancelled.

[4] Subsequently 70% of the bank's shares were sold to Tórshavn based TF Holding for DKK 572 million.

After the sale of Eik Banki's Danish retail banking operations in December 2010, the company's principal remaining businesses are a retail and commercial banking network in the Faroe Islands and ownership of the leading Faroese real estate brokerage company, Inni P/F.