Speech by Páll Gunnar Pálsson, Director General of the Competition Authority, at a seminar on the future of the Savings Banks

The Savings Banks in Iceland hosted a seminar on 4 May about the future of the Savings Banks in Iceland. Páll Gunnar Pálsson, Director General of the Competition Authority, gave a speech there in which he discussed the competitive position of smaller financial institutions. The speech can be accessed here: Speech by Páll Gunnar Pálsson – The Future of the Savings Banks.

The opportunity for new and smaller financial firms lies primarily in creating a constructive competitive environment, where well-run financial firms have the potential, through the ingenuity of their management, to grow and prosper alongside the large banks. This is also the key to creating healthy competitive pressure for the large banks.