Around 16,000 Belgians that had deposits and balances in Luxembourg’s Kaupthing branch will be expected to receive reimbursements later this week. Their accounts and balances were frozen in November last year shortly after the collapse of the Icelandic banks.The reimbursement day was confirmed in a mutural agreement and statement between the Credit Agricole bank as well at the daughter ban, Keytrade Bank. Investors will be receiving their money back from t hese two banks.
Governments and politicians in both Luxembourg and Belgium have also agreed to grant a loan to Kaupthing in Luxembourg for up to 320 million euros. It was also reported that at the same time Kaupthing will also be reimbursing their Swiss investors.