Lands­bank­inn is the best bank in Ice­land in the as­sess­ment of Eur­omoney

The international business and finance magazine Euromoney has chosen Landsbankinn as the best bank in Iceland, and this is the second year in a row that the bank receives this recognition.
24 July 2020

Each year, Euromoney nominates the best banks in various parts of the world, and confers upon them the Award for Excellence in recognition of their qualities. The nomination process involves the consideration of different aspects of the bank's activities and policies, such as income from regular business activity, streamlining to reduce costs, and services offered.

In Euromoney's notes on the nomination it is stated among other things that Iceland’s post-financial crisis recovery, largely fuelled by tourism, was already cooling last year. The impact of the coronavirus on the international travel and tourism industry therefore poses particular challenges for the country’s banks.

"Iceland’s best bank, Landsbankinn, has held up better as the crisis develops, and it seems better equipped to weather difficulties than its rivals, not least thanks to its exemplary degree of efficiency. Its cost-to-income ratio in 2019 was just 43%, while the bank increased its lending to retail customers by ISK 54 billion ($390 million). It also posted an extraordinarily high common equity tier-1 ratio of 24%. The year saw Landsbankinn introduce Apple Pay, Fitbit Pay and Garmin Pay for the use of its customers. It also launched an API (application programming interface) marketplace as part of its open-banking initiatives and it rolled out self-service credit limits and overdrafts for current account clients."

Lilja Björk Einarsdóttir, Manager of Landsbankinn, states: "We are very happy that Euromoney has nominated Landsbankinn the best bank in Iceland, for the second year in a row. Our emphasis on providing financial services of the highest quality, through both powerful digital solutions as well as personal service, has resulted in increased satisfaction among our customers, which is reflected among other things by the fact that the bank was at the top of the Icelandic Satisfaction Scale. At the same time, the bank's market share has increased to such an extent that it has never been greater with regard to the consumer market. Euromoney's recognition encourages us to continue on the same path, to provide excellent service while at the same time ensuring that the bank is run in an efficient and reliable manner."

You may also be interested in
28 Feb. 2024
Unchanged interest terms on new mortgages for Grindavík home owners
Landsbankinn offers the people of Grindavík who hold fixed-rate housing mortgages with the Bank and who decide to sell their housing to the State, the option to keep the terms of the old mortgage on the purchase of new homes.
28 Feb. 2024
Improved chat function on
The chat function on Landsbankinn’s website has now become even better with the addition of a new chatbot that responds to simple yet varied queries about banking and finance and can help customers in the use of self-service solutions.
23 Feb. 2024
Thieves target ATM users
We would like to warn against thieves who are targeting ATM users and to reiterate the importance of safeguarding your PIN at all times.
22 Feb. 2024
What do you want to know about finance and banking in Iceland?
Landsbankinn and VFSK invite to an open information session in Polish about savings, pension, mortgages and cybersecurity.
13 Feb. 2024
Landsbankinn Corporate Finance co-advisor in successful Amaroq offering
Amaroq Minerals Ltd., a mining company engaged in the identification, acquisition, exploration and development of strategic mineral assets in South Greenland, yesterday concluded a successful placement in the amount of ISK 7.6 billion.
12 Feb. 2024
Reykjanesbær branch open
Our branch in Reykjanesbær at Krossmóar 4a has been reopened.
Gulleggið 2024
9 Feb. 2024
Sea Growth takes Gulleggið 2024
The business idea Sea Growth won the innovation competition of Icelandic Startups, Gulleggið 2024. Sea Growth proposes to grow cell-based fish products. The team is composed of Birgitta G.S. Ásgrímsdóttir, Alexander Schepsky, Martin Uetz and Sigrún Guðjónsdóttir.
26 Jan. 2024
Reduced service due to maintenance Sunday night/Monday morning
Due to maintenance work certain of Landsbankinn’s services will be unavailable Sunday night through to Monday morning, from 0:00 to 6:00 on 29 January.
19 Jan. 2024
Top of the Performance Satisfaction Index for the fifth year in a row
Landsbankinn was ranked highest by banking customers in the Icelandic Performance Satisfaction Index 2023, the fifth year running.
18 Jan. 2024
Landsbankinn extends solution for Grindavík  
When the seismic and volcanic activity on the Reykjanes peninsula began, Landsbankinn offered all inhabitants of Grindavík payment deferral for a six-month period and cancelled interest and inflation-indexation on housing mortgages for three months. In light of the severity of the situation, we have now decided to extend the period of cancellation of both interest and indexation on housing mortgages by another three months, until the end of April. 

By clicking "Allow All", you agree to the use of cookies to enhance website functionality, analyse website usage and assist with marketing.

More on cookies