The clubs owner Bjorgolfur Gudmundsson has a 41% stake in the bank which has been brought under control of the Icelandic government to prevent its collapse as the global credit crunch starts to hit home.
Vice-chairman Ausgeir Fridgeirsson told the BBC, "It has to be clear that even though he has been hurt in one of his investments, it will not have a direct impact on other investments, including West Ham.
"As of today, there is no need for him to sell West Ham. He has already put £30m into the club since he bought it. He is not going to take any money out of the club."