Central Bank went €3.6m over budget on new data system despite giving reassurances about cost

Central Bank went €3.6m over budget on new data system despite giving reassurances about cost

It’s one of 15 capital projects where the bank has overspent since 2020.

The share offering took place on March 22, 2022, and the sale value of 22.5% in the bank was ISK 52.65 billion. The sale process was heavily criticized. The State Bank of Iceland criticized how the sellers of the shares handled the sale. The National Audit Office issued a report the same year as the offering on how the Ministry of Finance and the State Bank of Iceland prepared the sale. The Central Bank's Financial Supervisory Authority began an…