New report on the 2018 World Cup

13.06.2018

According to Íslandsbanki's new report on the financial side of the 2018 World Cup in Russia, stadium construction is 150% over budget in rubles. The total cost will be over USD 12bn and the Russian government will spend USD 200m on keeping stadiums open after the tournament, since they are far too large for Russian football.

The international football federation FIFA will receive an estimated USD 5.4bn in revenue but Russia will have to trust in future growth in tourism and a more positive international image.

The report was presented at a meeting at Íslandsbanki's headquarters were the editor Björn Berg Gunnarsson was joined by former Iceland captain Hermann Hreiðarsson and commentator Guðmundur Benediktsson.

The report can be found here.

Older news

An open sales process of Íslandsbanki’s holding in Borgun

11.01.2019
The Íslandsbanki Board of Directors has decided to initiate a formal sales process of the Bank’s holding in Borgun. The process will be open and...More

Islandsbanki hf.: Fitch affirms Íslandsbanki BBB rating with stable outlook

26.11.2018 - IR Releases
Today, Fitch Ratings has affirmed Íslandsbanki's rating of BBB with a stable outlook.More

Pay with your phone

19.11.2018
Customers of Islandsbanki can now use conduct contactless payments with their phones all around the world.More

Consolidated Unaudited Interim Financial Statements 9M18

07.11.2018 - IR Releases
Íslandsbanki made a net profit of ISK 9.2 billion in the first nine months of the year and an annualised ROE of 7.1% (9.0% for regular operations).More

Íslandsbanki invests €3 million in Meniga’s digital banking solutions

06.11.2018
Meniga’s total investment from banks in 2018 reaches €9.1 millionMore

Nordic CEOs join forces for a sustainable future

01.11.2018
Today, a group of Nordic-based CEOs announced a joint initiative to speed up the realisation of the UN Sustainable Development Goals (SDGs). More

Íslandsbanki in cooperation with LATTICE80 the world’s largest fintech hub

01.11.2018
This spring, the Bank announced its intention to collaborate on developing future fintech solutions providing third-party access to information via...More
Netspjall