ICELAND'S TALE OF TWO BANKING STORIES

摘要

Much has changed in Iceland in the past 15 years. The country's finance industry expanded rapidly after its banks were privatised in early 2000, only to collapse in dramatic fashion in the aftermath of the 2008 financial crisis. This led the country's three largest commercial banks to collapse and then be nationalised. Their three successor banks have changed their approach, and have since recovered and boosted their capital ratios - but insolvency proceedings at the old banks are still under way.