Icelandic banks continue to have an image problem, particularly after a deal make good British and Dutch losses, was again rebuffed this week, but one bank is getting US praise for its new TV ad campaign on old-fashioned values

The people of Iceland have again rejected a deal to make good millions in British and Dutch losses as Icelandic banks crashed in 2008. But one of the banks at the heart of the disaster has won praise in the US for what has been called a series of "stunning" new TV commercials. See them here for the first time - and judge for yourself!

The  bank, Islandsbanki, has resumed marketing for its wealth-management unit. It has rebranded the unit  VIB Wealth Management, a name from the pre-2001 past which stood for conservatism, long-term thinking and for educating clients on financial issues. 

The  TV commercials which accompany the rebranding try to do what U.S.and British  banks have never tried, says the US magazine AdAge - educate consumers about the perils of financial shortcuts.

In the ads, professional people -- a horse trainer, a trawler captain, a watchmaker and a painter -- talk about their philosophy for success, and what they say is related to the philosophy of wealth management.

The trawler captain explains his job: "I always bear in mind that I've got a lot of valuables on my hands, and it's my job to bring it home, both the crew and the catch. A sound preparation reduces the risks, but the main principle is to always know what you are doing. That makes you ready for all kinds of weather."

The TV and print campaign, says the bank, "reflects the transformation that has been within our unit in the last two years. The campaign's core themes are respect for professionalism and real achievements, things we will strive to stand for in the future.

A background paper on the thinking behind the campaign says: "The banks cannot go forward in their marketing efforts by trying to ignore the past. Everything the banks say is still put in the context of the collapse." 

In 2008 all three of Iceland's major banks -- including Islandsbanki -- went bankrupt in the same week. New banks were founded, but the past still haunts them. 

American commentators who have praised the new Icelandic ads say,"Too many financial-services ads in the U.S. use empty slogans about how they care about us, but too few come at it from the client's view -- how they run their businesses and how they expect the same professionalism from their financial provider."

Stefan Sigurdsson, managing director of the wealth-management unit said: "It will both take a lot of time and honest hard work to build trust again."