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The Web of Ownership

In: Bringing Down the Banking System

Author

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  • Gudrun Johnsen

Abstract

As early as 2004, market participants noticed the rapid growth of the balance sheets of the Icelandic banks. It was widely acknowledged that the banks were engaged in takeover activities as well as in establishing their branches abroad from the ground up. As it turned out, the year-over-year organic growth of the combined assets of the three banks—excluding all acquisition activities—was phenomenal, ranging from 36 to 66 percent.1 External growth (reflecting acquisitions) was also intensive, especially in 2004–2005 (Table 10.1).2

Suggested Citation

  • Gudrun Johnsen, 2014. "The Web of Ownership," Palgrave Macmillan Books, in: Bringing Down the Banking System, chapter 0, pages 109-117, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-34735-0_10
    DOI: 10.1057/9781137347350_10
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