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Rapid increase in value of investment companies

The value of investment companies registered in the Iceland Stock Exchange (ICEX) has increased by ISK 300 billion (EUR 3.4 billion, USD 4.4 billion) since the beginning of this year.

By Monday Kaupthing Bank alone, the largest company registered in ICEX, had increased its value by ISK 107 billion (EUR 1.2 billion, USD 1.6 billion) since January 1, as Fréttabladid reports.

The Iceland-based finance service company Exista had increased its value the most proportionally, by 21 percent since the beginning of 2007.

According to Fréttabladid, this high increase in value can be explained by the companies’ successful annual settlement of accounts and high expectations of continued growth of the Icelandic banks in foreign markets.

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