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Icelandic bank's rebirth is reassuringly prudent


Iceland s national flags flutter over the souvenir shop in Reykjavik, Iceland August 19, 2019.
Icelandic banking has an ominous history. The North Atlantic country’s three largest lenders, Kaupthing, Landsbanki and Glitnir, more than doubled their assets in 2004, and again in 2005, only to fail simultaneously in 2008. Íslandsbanki, a state-owned group constructed from the wreckage of Glitnir, is asking for rehabilitation with an initial public offering that values it at $1.2 billion. It’s reassuringly prudent – and cheap.
Chief Executive Birna Einarsdóttir can take much of the credit for Íslandsbanki’s restoration under government ownership, having taken charge in October 2008. The lender in which the state is selling a 35% chunk couldn’t be more different to Glitnir. Its funding mix looks safer, with largely domestic customer deposits accounting for over half of its liabilities. That ratio was roughly one-quarter for Glitnir in 2007, lea ....

Birna Einarsd , Marion Bank , North Atlantic , Executive Birna Einarsd , Nasdaq Iceland , அரின் வங்கி , வடக்கு அட்லாண்டிக் , நாஸ்டாக் ஐஸ்லாந்து ,

Chinese producer price pop pains policymakers

The People’s Republic has an unusual inflation problem. A commodities rally , the fastest gain since 2008. Consumer inflation, on the other hand, rose a tepid 1.3%. Companies appear unable to pass higher costs onto their customers. ....

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