Funding
Funding
Landsbankinn's funding rests on three main pillars: Deposits from customers, market funding and equity. The Bank’s credit rating, issued by S&P Global Ratings, is BBB/A-2 with positive outlook.
![](https://images.prismic.io/landsbankinn/a8ac1ca4-4890-4950-852d-fe9c0189feae_Landsbankinn0022-1920.jpg?fit=max&w=3840&rect=0,99,1920,1080&q=50)
Market funding
Landsbankinn is a regular issuer on both domestic and international bond markets. EMTN issuance and covered bonds form the largest part of the Bank’s borrowing.
![](https://images.prismic.io/landsbankinn/bc876641-cdb4-47dd-95bf-a6e3bb856dbc_Landsbankinn_Irma_Abstrakt_09.jpg?fit=max&w=3840&rect=639,331,665,665&q=50)
EMTN issuance
Landsbankinn has listed an Euro Medium Term Note (EMTN) programme in the amount of EUR 2 billion. The Bank first issuance under the EMTN programme was in 2015 and issuance has been regular since.
![](https://images.prismic.io/landsbankinn/812d39a3-e4a4-48e8-b293-01f5b47b9606_Landsbankinn_Irma_Abstrakt_017.jpg?fit=max&w=3840&rect=452,323,665,665&q=50)
Covered bonds
Landsbankinn issues covered bonds under a covered bonds issuance framework in the total amount of EUR 2,500 million. Initial issuance of covered bonds was in 2013, with regular issuance since.
![](https://images.prismic.io/landsbankinn/c838f1f1-003d-433c-a50f-1a4227022743_Landsbankinn_Irma_Abstrakt_014.jpg?fit=max&w=3840&rect=615,317,763,763&q=50)
Bonds and bills
Issuance of bonds and bills in the domestic market takes place under the Bank’s framework for bonds and bills in the amount of ISK 50 billion.
![](https://images.prismic.io/landsbankinn/780974b6-58ad-47bf-90d3-21631f610b1a_Landsbankinn_Irma_Abstrakt_03.jpg?fit=max&w=3840&rect=253,137,943,943&q=50)
Sustainable finance framework
Initial issuance under the framework was in 2021.