Each year, Euromoney selects the best banks around the world, granting them recognition with its Award for Excellence. The selection process has regard for various aspects of the banks’ operation and strategy, including performance and profitability, innovation and service.
According to Euromoney, Landsbankinn secures the 2021 Award for Excellence as it continues to be the domestic leader, not just in terms of the size of its balance sheet, loan book and mortgage market share but also by profit and interest income. Landsbankinn’s cost/income ratio was 47.4% in 2020 and its return on equity 8.6% during the period of these awards, i.e. Q2 2020 up to and including Q1 2021. Euromoney also mentions the Bank’s successful digital development and that it was the first Icelandic bank to receive a credit rating for its domestic covered bonds. Landsbankinn also published its first sustainable finance framework and concluded the sale of its first green bond.
Lilja Björk Einarsdóttir, CEO of Landsbankinn: “We are focused on making life simpler for our customers, on offering competitive terms and ensuring the continued sound operation of the Bank. Securing Euromoney’s Award for Excellence for the third year in a row is a satisfying recognition of the success of this strategy. While the award is important, it is no less important to see and feel the increasing satisfaction of our customers in our dealings with them, and have this confirmed through polls and surveys. Our customer base is expanding, with new customers moving to Landsbankinn based on our reputation for better service. The best terms on non-indexed mortgage loans are also a selling point.”