News

News

Helga og Berglind
23 Feb. 2024
Helga Björk steps down as Chairman at Landsbankinn’s AGM in March
Helga Björk Eiríksdóttir, Chairman of the Board of Directors of Landsbankinn, a Director of the Board since 2013 and Chairman since 2016, will not stand for re-election to the Board at the Bank’s AGM on 20 March 2024. Berglind Svavarsdóttir, Vice-chairman of the Board and a Director since 2016, will also not stand for re-election and steps down at the same time.
Austurbakki
16 Feb. 2024
Landsbankinn’s science-based emission goals verified
Landsbankinn’s goals to reduce greenhouse gas emissions have been verified by the Science Based Targets initiative (SBTi). We are the first Icelandic bank to achieve this.
Fjölskylda
15 Feb. 2024
Publication of Landsbankinn’s Annual & Sustainability Report
Landsbankinn’s Annual & Sustainability Report for 2023 has now appeared. It reviews highlights in the Bank’s operation in the past year, developments in services and operation, successful funding, sound risk governance, robust sustainability work and more.
Austurbakki
15 Feb. 2024
Landsbankinn exercises authorisation to buy back own shares
Landsbankinn's Board of Directors has decided to exercise an authorization to purchase the Bank's own shares, which was approved at the Bank's AGM on 23 March 2023. The buyback program allows for the maximum purchase of 54 million shares, or 0.23% of issued shares.
1 Feb. 2024
Carbon emissions from credit portfolio contracted by 8%
Alongside the Bank’s annual financial statements, we are now publishing sustainability accounts for 2023, disclosing detailed information about sustainability and Landsbankinn’s operation. The accounts are verified in part or whole by auditing firm Deloitte.
Austurbakki
1 Feb. 2024
Financial results of Landsbankinn for 2023
Landsbankinn's after-tax profit in 2023 was ISK 33.2 billion. Return on equity (ROE) was 11.6% in 2023 after tax.
Austurbakki
25 Jan. 2024
Landsbankinn updates its Sustainable Finance Framework
Landsbankinn has updated its Sustainable Finance Framework, initially published in early 2021. The updated Framework maintains the Bank’s scope for financing green and social projects, such as the switch to renewable energy, development of environmentally-friendly infrastructure and sustainable fisheries.
Austurbakki
17 Jan. 2024
Landsbankinn to disclose nature-related financial information
Landsbankinn is one of 100 financial undertakings to become an inaugural early adopter of recommendations from the Taskforce on Nature-related Financial Disclosures (TNFD). The companies will include nature-related financial information in their corporate reporting based on TNFD’s recommendations.
Austurbakki
18 Nov. 2023
S&P revises outlook on credit rating from stable to positive
S&P Global Ratings has today revised the outlook of Landsbankinn’s credit rating from stable to positive, resulting in a credit rating of BBB/A-2 with positive outlook.
Austurbakki
26 Oct. 2023
Financial results of Landsbankinn for the first nine months of 2023
Landsbankinn’s profit in the first nine months of 2023 amounted to ISK 22.4 billion, ISK 7.9 billion thereof in the third quarter. Return on equity (ROE) in the first nine months of the year was 10.5% and 10.9% in the third quarter.
5 Sept. 2023
Landsbankinn issues green bonds for EUR 300 million
Today, Landsbankinn concluded the sale of a new green bond series in the amount of EUR 300 million, the Bank’s third green bond issuance in euros. The bonds bear a 6.375% fixed rate and were sold at terms equivalent to a 313 basis point spread above mid-swap market rates. The bonds have a 3,5-year tenor and mature in March 2027.
Austurbakki
20 July 2023
Financial results of Landsbankinn in H1 of 2023
Landsbankinn’s profit in the first half of the year amounted to ISK 14.5 billion, ISK 6.7 billion thereof in the second quarter. Return on equity (ROE) was 10.3% in H1.
Austurbakki
4 May 2023
Financial results of Landsbankinn for the first three months of 2023
Return on equity (ROE) at Landsbankinn was 11.1% in the first three months of 2023. Net profit was ISK 7.8 billion.
Austurbakki
23 March 2023
Results of the 2023 AGM of Landsbankinn
The annual general meeting of Landsbankinn, held on 23 March 2023, agreed to pay a dividend amounting to ISK 8,504 million to shareholders. The AGM approved a proposal to change the Bank’s address from Austurstræti 11 to Reykjastræti 6.
9 March 2023
Landsbankinn sells European Covered Bond (Premium) in euros
Today, Landsbankinn concluded a sale of European Covered Bonds (Premium) in euros. The bonds are in the amount of EUR 300 million, with a 5-year tenor and have a fixed coupon of 4.25%. The bonds were sold at terms equivalent to 90 basis point spread over mid-swap market rate.
Hestar og kona
16 Feb. 2023
Publication of Landsbankinn’s Annual & Sustainability Report
Landsbankinn’s Annual & Sustainability Report for 2022 reviews highlights in the Bank’s operation last year, new solutions and changes to service, continued work on sustainable development, funding, risk management and more.
Austurbakki
2 Feb. 2023
Financial results of Landsbankinn for 2022
The net profit of Landsbankinn in 2022 was ISK 17.0 billion (2021: ISK 28.9 billion). After-tax return on equity for 2022 was 6.3% (2021: 10.8%).
27 Oct. 2022
Financial results of Landsbankinn for the first nine months of 2022
Landsbankinn’s profit in the first nine months of 2022 amounted to ISK 11.3 billion, ISK 5.8 billion thereof in the third quarter. Return on equity (ROE) in the first nine months of the year was 5.6% and 8.5% in the third quarter. A decrease in the fair value of the Bank’s equity portfolio negatively impacts its profitability this year.
21 July 2022
Financial results of Landsbankinn in H1 of 2022
The Bank’s profit in the first half of 2022 amounted to ISK 5.6 billion, ISK 2.3 billion thereof in the second quarter. Return on equity (ROE) was 4.1%, falling short of the Bank’s 10% target mainly because of fluctuations in equities held by the Bank. 
27 May 2022
S&P raises Landsbankinn’s covered bond rating to A
S&P Global Ratings has today announced that Landsbankinn’s covered bond rating has been raised. The rating uplift is one notch and the rating is therefore A with stable outlook.
5 May 2022
Financial results of Landsbankinn for the first three months of 2022
Landsbankinn’s net profit in the first three months of 2022 was ISK 3.2 billion. Return on equity (ROE) was 4.7%. Net fee and commission income increased by 28.5% YoY, mainly from growing activity in asset management and capital markets. Net interest income grew by 19%, mainly driven by a larger balance sheet and better returns on liquid assets. Market share in the retail market measured 39% at the end of the quarter, slightly higher than in the same quarter last year. The cost/income ratio was 54.9% and costs remain stable. Operating expenses as a ratio of average total assets were 1.4%. Growth in mortgage lending has declined while lending to corporates increased by ISK 20.7 billion, not having regard for exchange rate impact. Around 90% of new housing mortgages in the first quarter were non-indexed and 58% of the mortgages carry fixed rates, in most cases for a 3-year period. Landsbankinn became a Visa principal member, increasing operational efficiency and making it easier for the Bank to offer new services linked to payment cards, among other things. Mortgage papers were registered electronically for the first time in February, with Landsbankinn becoming the first Icelandic bank to offer this service. The transaction volume in Landsbréf’s mutual funds has grown by 30% between years.
23 March 2022
Results of Landsbankinn’s 2022 Annual General Meeting
The Annual General Meeting of Landsbankinn, held on 23 March 2022, agreed to pay a dividend amounting to ISK 14,409 million to shareholders. The dividend is equivalent to 50% of 2021 profits. The AGM also approved a special dividend in the amount of ISK 6,141 million. In total, the Bank pays ISK 20,550 million in dividends to its owners this year. Dividend payments from the Bank in 2013-2022 total ISK 166.7 billion.
1 March 2022
Annual general meeting of Landsbankinn 2022
The Annual General Meeting of Landsbankinn hf. will be held remotely on 23 March 2022, at 16:00.
Höfuðstöðvar Landsbankans í Austurstræti
22 Feb. 2022
Acquisition by Landsbankinn of own shares under a buyback programme - end of acquisition period - February 2022
On 4 February 2022, Landsbankinn announced that the Bank would offer to purchase shares from shareholders under the terms of a buyback programme during the period 7 February 2022 to 21 February 2022. During the period, Landsbankinn acquired a total of 156,396 own shares at a share price of 11.9658, for the total amount of ISK 1,871,403.
4 Feb. 2022
Landsbankinn utilises authorisation to buy back own shares - February 2022
Landsbankinn's Board of Directors has decided to exercise an authorisation to purchase the Bank's own shares, which was approved at the Bank's AGM on 24 March this year. The buyback programme allows for the maximum purchase of 57 million shares, or 0.24% of issued shares. Landsbankinn has previously offered shareholders the chance to sell their shares in the Bank, most recently in November 2021.
Barn á háhesti
3 Feb. 2022
Publication of Landsbankinn’s 2021 Annual & Sustainability Report
The Report provides accessible insight into the Bank’s services and operation and details about the great strides made in sustainability in 2021.
Fjölskylda
3 Feb. 2022
Financial results of Landsbankinn for 2021
Landsbankinn's net profit in 2021 was ISK 28.9 billion. After-tax return on equity (ROE) was 10.8% in 2021. The Bank’s long-term ROE target is 10% at a minimum.
12 Jan. 2022
Landsbankinn issues bonds in SEK and NOK
Landsbankinn hf. has today concluded the sale of floating rate bonds with a maturity of 3 years in the amount of SEK 850m and NOK 500m. The bonds were priced at a spread of 80bp over 3-month STIBOR and 79bp over 3-month NIBOR. In addition, the bank sold bonds with a maturity of 2 years in the amount of SEK 850m at a spread of 65bp over 3-month STIBOR. The bonds are expected to be rated BBB by S&P Global Ratings.
17 Nov. 2021
Landsbankinn issues green bonds in euros
Yesterday, Landsbankinn concluded a sale of green bonds in the amount of EUR 300 million with maturity in May 2026. The bonds have a fixed coupon of 0.75% and were sold at terms equivalent to 95 basis point spread over mid-swap market rate.
16 Nov. 2021
Acquisition by Landsbankinn of own shares under a buyback programme - end of acquisition period - November 2021
On 29 October 2021, Landsbankinn announced that the Bank would offer to purchase shares from shareholders under the terms of a buyback programme during the period 1 November 2021 to 15 November 2021. During the period, Landsbankinn acquired a total of 1,678,416 own shares at a share price of 11.6558, for the total amount of ISK 19,563,283.
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