The Amaroq Minerals Capital Markets Day will be hosted in Landsbankinn’s new headquarters at Reykjastræti 6, Friday 2 June, at 9:00-11:00. The event, which will be held in English, will also be live streamed.

Landsbók is an inflation-indexed account suited to customers looking for the best method of maintaining the value of their savings. We now offer a shorter fixed term on deposits to inflation-indexed account Landsbók, or 11 months instead of three years previously, and pay out deposits 31 days after withdrawal orders. Following the 11-month fixed term, deposits are always free for withdrawal with 31 days’ notice.

Following the recent interest rate decision of the Central Bank of Iceland, changes will be made to Landsbankinn’s interest rates. Interest rate changes also have regard for market rates and other funding terms of Landsbankinn. The main changes are as follows:

We appreciate the good attendance at our most recent Financial Forum: Finances and Career, as well as the lively participation in discussions about young adults in the labour market that followed.

We have published a new version of the Bank’s General Terms and Conditions. The Terms apply to business transaction between Landsbankinn and its customers, both private and corporate. In addition to the Terms, contract provisions, other terms and rules may apply to specific products or services provided by the Bank.

Landsbankinn invites young adults who are taking their first steps in the job market to attend a seminar in the Bank’s new headquarters at Reykjastræti. 

The three events hosted in Landsbankinn’s new headquarters at Reykjastræti last week in collaboration with DesignMarch were well attended. 

Landsbankinn has received an updated ESG risk rating from Sustainalytics, maintaining its negligible risk position with a rating of 8.5 on a scale to 100. This means that Sustainalytics considers the Bank at negligible risk of experiencing material financial impacts from environmental, social and governance factors (ESG).

Return on equity (ROE) at Landsbankinn was 11.1% in the first three months of 2023. Net profit was ISK 7.8 billion.

You can now use Landsbankinn’s app to grant others view access to your finances or authority to carry out various transactions on your behalf. Cancelling access authorisations is also easy.

Landsbankinn’s opening hours in Kópasker and Raufarhöfn will change for the summer, as of 1 May to 30 September.

Because of the merger of payment card companies Valitor and Rapyd Europe, VISA card bills will from here on be issued by Rapyd Europe and not Valitor as before. The merger has no other impact on customers. For further information on the merger, visit the website of Rapyd (previously Valitor)

A new macroeconomic forecast from Landsbankinn Economic Research expects to see 3.2% economic growth in 2023 and is considerably more optimistic than the department’s forecast from October 2022. One of the main reasons for optimism is the more positive outlook in the travel sector.

In light of the recent interest rate decision of the Central Bank of Iceland, the following changes will be made to Landsbankinn’s interest rate tariff. Interest rate changes also have regard for market rates and other financing terms of Landsbankinn. The main changes are as follows:

The first meeting in Landsbankinn’s Financial Forum series was held in Stúdentakjallarinn at the University of Iceland on Wednesday, in collaboration with the University’s Student Council. This first Financial Forum focused on the finances of young people, the real estate market and first-time buyers.

Landsbankinn’s website has been nominated for the Icelandic Web Awards in the large company category. The awards are hosted annually by the Icelandic Web Industry Association (SVEF), an organisation of professionals in the field.

On 17 March, Landsbankinn concluded an auction of two series of tier 2 bonds.

The annual general meeting of Landsbankinn, held on 23 March 2023, agreed to pay a dividend amounting to ISK 8,504 million to shareholders. The AGM approved a proposal to change the Bank’s address from Austurstræti 11 to Reykjastræti 6.

Lively discussion followed a well-attended meeting co-hosted by Landsbankinn and the Icelandic Organization of the Visually Impaired. The focus was on cybersecurity on the one hand and on access to self-service solutions on the other.

Electronic ID is now required in the confirmation process of payments made with payment cards on ecommerce platforms. Such payments were previously confirmed by entering a code texted to the customer’s phone.

AB-Fasteignir have received Landsbankinn’s Sustainable Financing Label for the production of renewable energy. Landsbankinn’s Sustainable Financing Label is awarded to businesses who meet the sustainability criteria of the Bank’s Sustainable Finance Framework and fulfil strict ESG requirements.

Today, Landsbankinn concluded a sale of European Covered Bonds (Premium) in euros. The bonds are in the amount of EUR 300 million, with a 5-year tenor and have a fixed coupon of 4.25%. The bonds were sold at terms equivalent to 90 basis point spread over mid-swap market rate.

Landsbankinn has launched its own merchant acquiring service. Merchants who bank with us can now concentrate all their payment service in one place, resulting in increased efficiency and a better overview of operations.

The Board of Directors of Eimskip University Fund (Ice. Háskólasjóður H/f Eimskipafélags Íslands) has announced its intention to allocate ISK 127.5 million to grants to doctoral students at the University of Iceland in 2023.

Following the interest rate decision, variable interest rates on non-indexed housing mortgages increase by 0.50 percentage points (pp), to 8.00%. Interest on savings accounts created in the app (Save in App) increase by 0.50 pp, to 6.00%.

Landsbankinn’s Annual & Sustainability Report for 2022 reviews highlights in the Bank’s operation last year, new solutions and changes to service, continued work on sustainable development, funding, risk management and more.

The business idea Better Sex won the innovation competition of Klak - Icelandic Startups, Gulleggið 2023. Better Sex is a streaming service for adults that shares professional and interesting knowledge about sex. Sigga Dögg and Sævar Eyjólfsson form the team behind the idea.

On Tuesday, 7 February 2023, the Reykjavík District Court ruled in a case concerning the terms that applied to interest rate changes in consumer loans from Landsbankinn. Following the adoption of a new Act on Consumer Loans in 2013, amendments were made to the terms and consumer loans taken out with Landsbankinn after that do not fall under the scope of the ruling.

The net profit of Landsbankinn in 2022 was ISK 17.0 billion (2021: ISK 28.9 billion). After-tax return on equity for 2022 was 6.3% (2021: 10.8%).

Landsbankinn’s opening hours in Skagaströnd will change as of 30 January. The outlet will after that be open on Mondays, Wednesdays and Fridays from 12-15.