Biotech company Alvotech has now moved its shares listed under the ticker symbol “ALVO” from First North Iceland to the Main Market on Nasdaq Iceland.

We’ve made changes to the confirmation of partial payment to credit cards. The changes are part of action we’re taking to increase security in the payment confirmation process and involve replacing security numbers with strong customer authentication (SCA).

The owners of candy producer Freyja and Langisjór ehf. have concluded an agreement on the purchase by Langisjór of K-102 ehf., which wholly-owns the subsidiary Freyja, as well as real estate connected to the operation. The sale was concluded subject to approval by the Icelandic Competition Authority. Landsbankinn Corporate Finance managed the sale process of K-102 ehf. and acted as advisor to the seller.

In Iceland, all wage earners aged 16 to 70 are obligated to pay a percentage of their wages toward mandatory pension savings.

You can now use your phone to pay with Aukakrónur! Simply add your Aukakrónur card to Google Wallet or Apple Wallet through Landsbankinn’s app and select Aukakrónur when you pay for goods and services with one of our 200 partners throughout Iceland.

Viggó Ásgeirsson, Managing Director and one of the founders of Meniga, has been hired as Head of Business Development in Landsbankinn’s Personal Banking division.

Blue Lagoon has engaged Landsbankinn Corporate Finance and Fossar Investment Bank to advise on the process for the company’s listing on Nasdaq Iceland. The company is aiming go public next year subject to market conditions.

Guðrún S. Ólafsdóttir and Hildur Sveinsdóttir have accepted new positions as department heads in Landsbankinn’s Personal Banking division. Both women possess a great deal of experience of work in financial markets.

Fixed rates on new non-indexed 36-month housing mortgages increase by 0.15 percentage points (pp) and fixed rates on new non-indexed 60-month housing mortgages by 0.25 pp. Fixed rates on new 60-month inflation-indexed housing mortgages increase by 0.20 pp. The changes enter into effect as at 10 November 2022.

Landsbankinn has accepted the offer of Akureyri-based investment company Kaldbakur for its building, commonly known as Landsbankahúsið, at Ráðhústorgið in Akureyri. Seven offers were received and Kaldbakur made the highest bid. The purchase price is ISK 685 million. Landsbankinn will operate out of the building until it relocates.

As in previous years, Landsbankinn has made a donation to a good cause in the name of all Exceptional Companies recognised by Creditinfo. This year, the donation of ISK 4 million, went to Bergið headspace.

Please note that it is no longer possible to log in to online banking and the app with a username and password. This change entered into effect on 10 October. The aim of the change is to enhance security in the login process.

Landsbankinn’s profit in the first nine months of 2022 amounted to ISK 11.3 billion, ISK 5.8 billion thereof in the third quarter. Return on equity (ROE) in the first nine months of the year was 5.6% and 8.5% in the third quarter. A decrease in the fair value of the Bank’s equity portfolio negatively impacts its profitability this year.

We’re excited to premier three new music videos on our Iceland Airwaves site today. Since 2014, we have produced 38 music videos in collaboration with Icelandic musicians playing Iceland Airwaves. All in all, these videos have had 3.3 million views.

Landsbankinn Economic Research forecasts 6.5% economic growth this year, record growth since 2007, only for considerable cooling to follow. Per the forecast, the policy rate will enter a rate-cutting cycle in the latter part of 2023 while inflation remains about 4% until 2025. Purchasing power looks set to contract by 0.4% this year but to pick up to the tune of 0.5% next year - a much slower increase than in recent year.

We now offer a 5.25% deposit rate when you save in Landsbankinn’s app. These savings have no fixed term and you can access your funds anywhere and anytime.

Over 120 guests attended a seminar on corporate cyber security we hosted on Wednesday, 12 October. Attendance was both physical and over a live stream from the event.

Variable interest rates on non-indexed housing mortgages increase by 0.25 percentage points (pp), to 7.25%. Variable interest rates on inflation-indexed housing mortgages increase by 0.25 pp. Fixed interest rates on new, non-indexed housing mortgages are unchanged while fixed interest rates on inflation-indexed housing mortgages increase by 0.30 pp.

An agreement has been concluded providing for the purchase by the Icelandic State of the North Wing of Landsbankinn’s new building, currently under construction at Austurbakki in central Reykjavík. The aim is for the building to house the Ministry of Foreign Affairs and function as a space for the exhibitions and activities of the National Gallery of Iceland. The State has also declared its interest to enter into negotiations for the purchase of Austurstræti 11.

Landsbankinn hosts its initial Sustainability Forum in Gróska on Thursday, 22 September. The event will also be streamed live.

Variable interest rates on non-indexed housing mortgages increase by 0.75 percentage points (pp), to 7.00%. Variable interest rates on inflation-indexed housing mortgages increase by 0.20 pp. Fixed interest rates on new non-indexed and indexed housing mortgages are unchanged.

Landsbankinn’s recognition as a model of good corporate governance has been renewed. Helga Björk Eiríksdóttir, Chairman of Landsbankinn’s Board of Directors, and Berglind Svavarsdóttir, Vice-chairman of the Board, accepted this recognition on behalf of the Bank at a formal ceremony held at Nauthóll on 26 August.

One of the methods used by cybercriminals is to hack social media accounts on platforms like Facebook, Messenger or Instagram. Private accounts are taken over and used to send messages requesting payment card information, security credentials, etc. that can then be used to defraud victims.

Fixed rates on new non-indexed 36-month housing mortgages increase by 0.20 percentage points (pp) and fixed rates on new non-indexed 60-month housing mortgages by 0.20 pp.

Reykjavík Culture Night will be celebrated in the city centre on Saturday, 24 Augustthis year. Landsbankinn has been a pillar of Reykjavík Culture Night since its inception and, as usual, invites visitors to enjoy several events at its Austurstræti 11 branch.

The investigation into fraud perpetrated against customers this summer is progressing well, according to a statement from the police. We urge customers to access Landsbankinn online banking directly through the Bank’s website by entering landsbankinn.is in the browser field rather than use search engines.

We would like to issue a warning about fraudulent behaviour that has taken place under name of Landsbankinn, and remind you that a transfer of funds should never be approved unless you really intend to transfer funds.

Twelve associations and events received allocations from the Pride Parade Fund of Reykjavík Pride and Landsbankinn for the 2022 Pride Parade. Reykjavík Pride begins on Tuesday the 2nd of August, and the main event is the Pride Parade on Saturday, August 6th.

The Bank’s profit in the first half of 2022 amounted to ISK 5.6 billion, ISK 2.3 billion thereof in the second quarter. Return on equity (ROE) was 4.1%, falling short of the Bank’s 10% target mainly because of fluctuations in equities held by the Bank. 

We now allow third party service providers to display information about our customers’ payment accounts in their own apps, provided the customer has given consent.