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“We have striven to diversify our sources of funding and consider doing so extremely important.” Bjarni Armansson |
In the context of the extraordinary growth of the Icelandic banking market, being labelled “the conservative bank” by market observers is hardly an accusation of inertia. The label has arisen, in part, because Íslandsbanki has focused its international expansion efforts on organic growth in specialist areas such as fishing, sustainable energy industry and offshore supply.
In January, Íslandsbanki made its most significant overseas acquisition yet with the purchase of commercial bank BNbank in Norway.
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