News and announcements

The CBI published a report on the foreign exchange market, exchange rate developments, and international reserves in 2020. The Government Debt Management Agency published its monthly Market Information report. S&P Global Ratings issued a credit rating for Landsbankinn’s covered bonds. Registered unemployment was 12.1% in December, 1.4 pp of that figure due to part-time claims.

S&P Global Ratings has today assigned a credit rating for covered bonds issued by Landsbankinn at A- with stable outlook.

We will reopen Landsbankinn's branches as soon as changes to restrictions on gatherings enter into force on Wednesday, 13 January. Please continue to make appointments to visit us to help us uphold 2-metre distance and ensure that we respect the 20 persons rule.

The CPI based on prices in December increased by 0.20% MoM, bringing the headline number to 3.6%. The CBI released its quarterly Economic Indicators report. The GDM released an annual prospect for 2021, quarterly prospect for Q1 2021, and a Medium-Term Debt Management Strategy for the period 2021-2025. The CBI will continue its regular programme of foreign currency sales in January. Icelandair released traffic data for December.

The Icelandic króna depreciated somewhat against the currencies of main trading countries last year. The euro was 14.9% dearer at year-end 2020 than at the beginning of the year, the US dollar 5.0% and the British pound 8.9% dearer.

Due to restrictions on gatherings, banking now primarily takes place over the phone, the Internet and appointments, as traditional service in branches is temporarily suspended. Landsbankinn gift cards can be ordered on landsbankinn.is and picked up at a branch.

Last week's highlights and the week ahead.

Landsbankinn has sold its shareholding in Stoðir hf. in an open sale process. The deadline to submit offers expired at 17:00 on Tuesday, 8 December.

Members of Klassi can now apply for a recreation grant to support participation in recreational activities.

Last week's highlights and the week ahead.

The EUR fell by 3.2% and the USD 5.6% against the ISK in November.

Last week's highlights and the week ahead.

Landsbankinn lowers corporate and retail rates and a new interest rate tariff enters into effect on 1 December 2020.

Last week's highlights and the week ahead.

At a meeting of the Board of Directors of Landsbankinn hf. held today, 19 November 2020, Hersir Sigurgeirsson announced his resignation from the Board of Directors of Landsbankinn.

The Partnership for Carbon Accounting Financials (PCAF) today launched the Global GHG Accounting and Reporting Standard for the Financial Industry.

Fixed interest rates on new non-indexed housing loans increase by 0.15-0.20 percentage points (pp) as of Tuesday, 17 November. Variable interest rates on non-indexed housing loans remain unchanged at 3.5%.

Last week's highlights and the week ahead.

Landsbankinn and the Football Association of Iceland (KSÍ) have renewed their partnership agreement for the next for years.

Last week's highlights and the week ahead.

The ISK depreciated by 1.3% against the EUR and by 1.9% against the USD in October.

Last week's highlights and the week ahead.

All Landsbankinn branches have been closed temporarily in response to tighter restrictions that apply as of 31 October.

Landsbankinn's after tax profit for Q3 of 2020 was ISK 4 billion. In the first nine months of 2020, Landsbankinn's net after-tax results were ISK 699 million

Landsbankinn Economic Research's macroeconomic and inflation forecast for 2020-2023 expects domestic product to contract by 8.5% in 2020, due to the Covid-19 pandemic. The contraction period will be relatively short-lived yet economic recovery will be slow, despite a robust pick-up next fall.

Last week's highlights and the week ahead.

Last week's highlights and the week ahead.

Landsbankinn has concluded the sale of senior unsecured floating rate bonds with a maturity of three years in the amount of NOK 500 million and SEK 500 million.

Last week's highlights and the week ahead.

Landsbankinn’s branch in Hamraborg was temporarily closed as employees were placed in quarantine. The branch was opened again on 14 October. Visits are by appointments only.