[1] The company was founded as MP Securities (Icelandic: MP Verðbréf hf) in 1999[2][3] by Margeir Pétursson[3] together with Sverrir Kristinsson and Ágústi Sindra Karlsson.
[citation needed] They owned 10% each, while Margeir 80% shares.
[3] It became the only commercial bank in Iceland that did not collapse that year when the worldwide economic crisis hit the country.
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