When a new loan is paid out, the work is usually just beginning. We need to maintain very open lines of communication with management and monitor developments closely. We make regular visits to customers and such visits strengthen the business relationship a great deal. We account managers feel how much our customers appreciate these visits.
One of the companies I act as Account Manager for is Algalíf in Reykjanesbær. Algalíf produces high-grade natural astaxanthin from microalgae, which is sold as a vitamin and food supplement. Our partnership with Algalíf began for real in 2015, when the Bank agreed to extend credit in the amount of ISK 900 million to enlarge the company’s factory at Ásbrú. The company’s Norwegian owners had already provided a similar amount and manufacturing of the company’s products was going well. We considered this the right moment to channel funds into the company, fully aware of the fact that there were still uncertainties and certain risks involved. The company’s current position is strong and collaboration with Orri Björnsson, CEO, and the company’s owners has been exemplary throughout. This has fostered trust and credibility, which is key to such projects.”