Lands­bank­inn changes in­t­erest rates

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.

Earlier today, Alvotech announced the completion of a private placement in the equivalent amount of ISK 19.5 billion (USD 137 million). The shares were sold at a purchase price of ISK 1,650 per share (equivalent of USD 11,57 per share) to a group of domestic professional investors and eligible counterparties. The private placement was initiated on 19 January 2023 and completed on 22 January 2023. Closing and settlement is expected to take place on 10 February 2023. Alvotech intends to use the proceeds for general operations and other business purposes. Landsbankinn Corporate Finance and ACRO Securities acted as advisors to Alvotech in the private placement.

Fixed rates on new non-indexed 36-month housing mortgages increase by 0.25 percentage points (pp) and fixed rates on new non-indexed 60-month housing mortgages by 0.10 pp. The changes enter into effect as at 19 January. These changes apply to new housing mortgages only and do not impact existing loans.

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

We want to warn our customers against cybercrime activity, especially attempts perpetrated through social media and messaging apps, which have been rampant of late.

Landsbankinn was ranked highest by banking customers in the Icelandic Performance Satisfaction Index 2022. This is the fourth year in a row that the Bank receives this recognition.

Landsbankinn has signed an agreement with the Nordic Investment Bank (NIB) providing for a 15-year USD 40 million (ISK 5.8 billion) loan in connection with the Bank’s new headquarters at Austurbakki, Reykjavík. The building is expected to achieve BREEAM Excellent certification and the loan is eligible for funding from NIB’s environmental bond proceeds.

Einar Pétursson and Thorbjörg Kristjánsdóttir have joined Landsbankinn Corporate Finance.

Our branches will be closed on the second day of christmas, Monday 26 December. Otherwise we will be open as usual. Of course, the app and online banking are accessible anytime and anywhere.

Landsbankinn has become a member of the Partnership for Biodiversity Accounting Financials (PBAF), an association working to enable financial institutions to assess and disclose impact and dependencies on biodiversity of loans and investments. In total 47 financial institutions around the world have joined PBAF, with Landsbankinn as the first Icelandic actor to join. PBAF is an affiliate of Partnership for Carbon Accounting Financials (PCAF) which created a methodology that enables financial institutions to measure and analyse emissions from their credit and asset portfolios.