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Kaupthing Says Fourth Quarter Profit Jumps 22%

Kaupthing, Iceland's largest bank, said Tuesday that fourth-quarter profit jumped 22% after the lender boosted commission and interest income.

Net income in the three months through Dec. 31 rose to 18.1 billion Icelandic krona ($262 million; 191 million euros), from 14.8 billion krona in the same period a year earlier, the company said in a statement.

Full-year net income surged 73% to 85.3 billion Icelandic krona (971 million euros).

"Kaupthing performed excellently during the year and 2006 was yet another record year," said Chief Executive Hreidar Mar Sigurdsson. "The growth of both commission and interest income is encouraging."

The bank will pay a full-year dividend of 14 krona ($0.20; 0.15 euros)a share.