Variable interest rates on non-indexed housing mortgages increase by 0.35 percentage points (pp). Fixed rates on non-indexed 36-month housing mortgages increase by 0.30 pp and fixed rates on non-indexed 60-month housing mortgages by 0.25 pp. Interest rates on inflation-indexed housing mortgages, both variable and fixed, are unchanged.

Búi Örlygsson has taken up the position of Head of Asset Management at Landsbankinn. Búi has 21 years of experience of asset management and has worked for Landsbankinn since the year 2000. Asset Management falls under the Bank’s Asset Management & Capital Markets division.

Yesterday, Landsbankinn concluded a sale of green bonds in the amount of EUR 300 million with maturity in May 2026. The bonds have a fixed coupon of 0.75% and were sold at terms equivalent to 95 basis point spread over mid-swap market rate.

Please note that minor changes are set to be made to the website that appears when Visa cardholders are asked to confirm online purchase with code. The changes will apply as of Wednesday, 10 November 2021.

Landsbankinn has opened an exhibition of 20 abstract works from its collection in its Austurstræti 11 branch. The exhibition will be open during the branch's opening hours.

A new Act on Payment Services has entered into effect. In response, we have opened a sandbox that allows fintechs and other companies in the sector to develop fintech solutions that link to the Bank’s systems.

Landsbankinn's Board of Directors has decided to exercise an authorisation to purchase the Bank's own shares, which was approved at the Bank's AGM on 24 March this year. The buyback programme allows for the maximum purchase of 57 million shares, or 0.24% of issued shares. Landsbankinn has previously offered shareholders the chance to sell their shares in the Bank, most recently in August 2021. Landsbankinn offers to purchase shares from shareholders during a repurchase period, extending from 1 November 2021 up to and including 15 November 2021. Shareholders interested in accepting the Bank’s offer must complete a notification form and submit it to the Bank. The notification form is available on the Bank’s website. Notifications will be processed throughout the period in the order in which they are received by the Bank until the maximum (of 57 million shares) is reached. If the maximum is reached during the repurchase period no further notifications will be processed. In accordance with the AGM's decision, Landsbankinn offers to purchase each share during the repurchase period at a share price equivalent to the proportion of equity belonging to the Bank's shareholders and the Bank's share capital, according to its most recently published financial statements prior to the commencement of the repurchase period. Based on Landsbankinn's interim results for the first nine months of 2021, the equity held by the Bank's shareholders amounts to ISK 275,343 million and outstanding shares number 23,623 million shares. In accordance with the above, Landsbankinn offers to purchase each share at a price of ISK 11.6558 during the repurchase period. Total shares in the Bank number 24,000 million. The Bank’s shareholders are 869. The National Treasury holds 23,567 million shares, or around 98.2% of issued shares. The Bank holds around 377 million own shares, or around 1.57% of issued shares. Other shareholders than the National Treasury and the Bank hold around 56 million shares, or around 0.23% of issued shares. Further information and instructions for shareholders interested in accepting the Bank’s offer are available on Landsbankinn’s website, www.landsbankinn.is/endurkaup. Further information is also provided by phone, +354 410 4040, and by email to vl@landsbankinn.is.

Variable interest rates on non-indexed housing mortgages increase by 0.20 percentage points (pp). Fixed rates on new non-indexed 36-month mortgages increase by 0.15 percentage points and fixed rates on new non-indexed 60-month mortgages by 0.10 pp. Interest rates on inflation-indexed mortgages, both variable and fixed, are unchanged. 

S&P Global Ratings has today published a report on Landsbankinn’s credit rating where an unchanged long-term credit rating was confirmed at BBB/A-2 with stable outlook.

The Icelandic króna depreciated against the currencies of Iceland’s main trading partners in September. At the end of the month, the euro stood at ISK 150.9, compared to ISK 149.6 at the end of August. The CBI intervened five days in September. On all five days, it sold euros.

Eyrún Anna Einarsdóttir has been hired as Managing Director of Asset Management & Capital Markets at Landsbankinn.

Please note that labels on Sproti piggybanks handed out by the Bank were insufficient. Piggybanks should not be used as toys, as small coins may fall out of them.

This is to call attention to changes to the Bank’s General Terms and Conditions. The General Terms and Conditions apply to business between the Bank and its customers, both private and corporate. In addition to these Terms and as the case may be, contract provisions and special terms and rules for individual products or services apply.

On 18 October, we are extending the hours customers have access to financial advisors over the phone or online until 18:00 every weekday. At the same time, branch opening hours, currently 9:00-16:00, will be shortened by an hour and will thereafter be 10:00-16:00.

Bergsteinn Ó. Einarsson has been hired as Managing Director of Risk Management at Landsbankinn and Sara Pálsdóttir has been hired as Managing Director of Community, a new division of the Bank which incorporates human resources, marketing, education, communication, sustainability and the Economic Research department.

Landsbankinn’s outlet in Þórshöfn has moved to Kjörbúðin’s facilities at Langanesvegur 2. The Bank’s services and opening hours remain unchanged and the ATM is accessible during Kjörbúðin’s opening hours.

A total of 150,000 foreign passengers departed via Keflavík airport in August.

Hrefna Ösp Sigfinnsdóttir, Managing Director of Asset Management & Capital Markets at Landsbankinn, has resigned her position with the Bank, where she has worked since 2010. She has already ceased employment.

The Icelandic economy grew by 7.3% in Q2 compared with the same period in 2020.

New laws on financial instruments enter into effect on 1 September 2021. The changes require action from legal entities and natural persons, who are not Icelandic nationals or who hold multiple citizenships and intend to trade in financial instruments.

Customers whose tokens have expired may experience difficulties executing payment. If you get an error message when attempting to confirm a payment with your RSA token, it is likely that the token has expired.

Variable interest rates on non-indexed housing mortgages increase by 0.20 percentage points (pp). Fixed rates on non-indexed housing mortgages are unchanged. Interest rates on inflation-indexed housing mortgages, both variable and fixed, are also unchanged.

The MPC raised policy rates by 0.25 percentage points last week.

We expect the MPC to hold policy rates unchanged on Wednesday.

A total of 110,000 foreign visitors departed through Keflavik International Airport in July. This is the largest number of departures since February 2020.

On 23 July 2021, Landsbankinn announced that the Bank would offer to purchase shares from shareholders under the terms of a buyback programme during the period 26 July 2021 to 9 August 2021. During the period, Landsbankinn acquired a total of 1,700,672 own shares at a share price of 11.3387, for the total amount of ISK 19,283,411

The Facebook page and Twitter account of Landsbankinn now carry blue verified badges. These are the blue checkmarks that appear next to the Bank’s name on Facebook and Twitter.

The total number of Icelandair‘s passengers on international flights in July was 220,000.

In the second half of July, the króna began to weaken, but that weakening was fully reversed towards the end of the month. At the end of July, the euro stood at ISK 146.6, which is almost unchanged from the end of June. Of 22 trading days in July, the CBI intervened seven days, on four days it bought euros and on three days it sold euros.