Cookies

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

Lands­bankinn named best bank in Ice­land by The Banker

Iceland’s competitive banking market is characterised by a high degree of innovation and a strong tradition of customer service. Landsbankinn, winning the 2020 country award, impressed the judges in both of these domains, and with its relatively strong set of financial results.
9 February 2021 - Landsbankinn

Much of the Landsbankinn’s recent success can be attributed to its strength in Iceland’s home loan market. Thanks to a combination of competitive lending rates, coupled with generous support for first-time buyers, the Bank has enjoyed significant growth in this product segment over the past 18 months. In January 2020, the Bank had granted about 700 housing loans but by June of the same year this number had doubled. In addition, around 2000 credit ratings were performed on the Bank’s website in June 2020 against a typical figure of between 700 to 900.

To accommodate this increased demand, Landsbankinn has reconfigured its lending process to ensure that staff in any branch are equipped to handle housing loan applications irrespective of the location of the borrower and the property. In addition, a higher number of summer staff were recruited to handle the demand and keep waiting times low.

Beyond home loans, Landsbankinn has introduced a successful and fully automated process for consumer lending. This involves two data engines that analyse applicants, approves them and then authorises the loan. This permits the Bank to issue a variety of loans through its online banking service and mobile application.

Lilja Björk Einarsdóttir, CEO of Landsbankinn: “We have emphasised offering favourable lending terms and ensuring that the borrowing process is simple and effective. Customers have responded, with many new customers turning to Landsbankinn and a growth in housing loans. The focus on digital development and advancement of our technological platform has allowed us to introduce several new digital solutions. It is safe to say that the Bank’s services have been revolutionised in recent years, both on the corporate and personal side. This award from The Banker is a welcome recognition of our success. We intend to continue offering first-rate digital solutions with a personal approach. That’s how we simplify life for our customers.”

You may also be interested in
16 April 2025
Service over Easter - the app and Ellí are open
Landsbankinn’s branches and service centres will as usual be closed over Easter and open again on Tuesday, 22 April.
9 April 2025
Economic forecast to 2027: Fair outlook yet anything may happen
Landsbankinn Economic Research today published its economic forecast to 2027. Economic Research forecasts 1.4% economic growth this year and 2.1% next year. Rarely has uncertainty been greater and the forecast can be said to hold until further notice. 
8 April 2025
Full house at Landsbankinn on DesignMarch
The atmosphere was exciting and the house packed at Landsbankinn’s DesignMarch event on Friday, 4 April. The event began with a discussion about funding and design, and in the evening, young fashion designers took over the stage.
Fjölskylda úti í náttúru
8 April 2025
Initial authorisation to use supplementary pension savings towards first housing purchase expiring soon
First-time home buyers can use their supplementary pension savings to make tax-free payments towards their mortgage for a 10-year period. Just over 10 years have now passed since the solution was first enacted and, as a result, the authorisation will soon expire for many - if it hasn’t already.
Landsbankinn
27 March 2025
Seyðisfjörður service point moves to Egilsstaðir
The services provided at Landsbankinn’s outlet in Seyðisfjörður will transfer to the Egilsstaðir branch on Friday, 4 April.
HönnunarMars 2025
26 March 2025
Diverse and exciting DesignMarch 2025 at Landsbankinn
Landsbankinn is one of the main sponsors of DesignMarch and an active participant in the festival. We will be hosting exciting events at the Bank’s headquarters in Reykjastræti and videos featuring seven designers will appear on our Youtube channel.
Landsbankinn
24 March 2025
First to digitise communication about inheritance estates to district commissioners
Landsbankinn has digitised the communication of information about the estates of deceased persons on the date of death directly to the estate register of district commissioners. This includes the balance on accounts and housing mortgages.
Landsbankinn og TM
21 March 2025
TM and Landsbankinn branches merge
The branches of TM and Landsbankinn in Akureyri, Reykjanesbær and Vestmannaeyjar will merge on Monday, 24 March 2025, allowing customers to get both banking and insurance service in one place.
Landsbankinn
20 March 2025
Landsbankinn changes interest rates
Landsbankinn changes deposit and lending rates and the new interest rate tariff enters into effect on 27 March 2025. The main changes are as follows:
Reykjastræti
3 March 2025
Landsbankinn’s building recipient of the Concrete Award 2025
Landsbankinn’s building at Reykastræti in Reykjavík has received the Concrete Award 2025 from the Icelandic Concrete Association. The Association annually recognises built structures that combine original and professional use of concrete in the man-made environment.