Gunnar Axel Axelsson posted this photo on his blog today. It was taken on September 12 2008, less than a month before the economic collapse.

Bjorgvin G. Sigurdsson, Minister of Commerce  handed Sigurjon Th. Arnason, the bank’s CEO an award for the best annual report from 2007.

The award was given to “underline the necessity of good annual reports, and their importance in delivering information from businesses”.

“Landsbankinn’s annual report is stylish and well manufactured. The layout is clear and graphics support the text in a good way. The report gives a thorough understanding of the bank’s situation and its operations. The presentation of HR issues, management and social responsibility is good. The bank’s accounts are clear and well presented”.

Kaupthing and Bakkavor were also honored for their annual reports.

Yet another evidence that the political and business elite either had no idea what they were doing…or knew it all to well.

Related posts:

1. Landsbankinn Assured The Dutch That Iceland Would Pay
2. Icelandic Bank CEO’s Success At The Ig Nobels
3. The Special Investigation Committee’s Report
4. The IMF report on Iceland
5. Landsbankinn loved to party, with the Independent Party