Kaupthing was a international Icelandic bank, headquartered in Reykjavik, that ranked among the largest and most profitable in the world.
By late 2008, Iceland’s external debt vastly exceeded it’s gross domestic product, leading to a dramatic drop in the value of the currency, a 90% plunge in the nation’s stock market and the collapse of the commercial banking sector, including Kaupthing, which by Christmas, 2008 was placed into receivership.
“Thinking Beyond”, Kaupthing Bank promotion (2008)
Relative to the size of its economy, Iceland’s banking collapse was the largest suffered by any country in economic history.
Vintage 2007 annual report, the last produced before the bank’s Christmas implosion, is shipped with actual Icelandic Kronur currency. Only one available.