Report title: Banking System Outlook: Iceland
from Moody's Global Credit Research
27 page (12910 word) report published Mar 14, 2008

Price $550.00 available for immediate download
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...Icelandic banks have enjoyed several years of rapid growth and international expansion. Until the end of the first half of 2007, banks were reporting very strong profitability. However, conditions in t he global credit markets have since changed radically. Listed Icelandic companies have experienced significant declines in share prices and some of the largest investment companies have been forced to restructure their operations. The chang ed market conditions have also been reflected in the Q3 and Q4 2007 results of the three major commercial banks (Kaupthing, Glitnir and Landsbanki), which un surprisingly all reported significant decreases in results. This largely reflec ts their business model, which relies on investment banking and capital markets-re lated earnings, both of which Moody's expects to prove challenging over the coming year. ...

Report Type: Banking System Outlook
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