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Pu­blicati­on of Lands­bank­inn’s 2020 Annual and ESG report

Landsbankinn's Annual and ESG Report for 2020 has been published to the Bank's website. The report presents the Bank’s operation and services in 2020 in an accessible manner.
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10 February 2021 - Landsbankinn

We continued to improve digital services for companies and individuals in 2020, responded to challenges with agility and took important steps toward sustainability. The Bank has never granted as much credit for housing purchases as in 2020, with favourable terms and good service driving the Bank’s growing market share in housing loans.

The report covers the Bank’s sustainability platform in detail, and its impact on the environment and society. The ESG section of the report is prepared in accordance with the GRI Standards: Core option and it also functions as a Communication of Progress Report to the UN Global Compact. Among the issues presented in the report are responsible investment and green finance, equality, our carbon footprint, and partnership and support for the community.

The Bank has also published a Pillar III Risk Report, available under the chapter on risk management.

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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. 
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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.
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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.
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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.
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22 Feb. 2022

Acquisition by Landsbankinn of own shares under a buyback programme - end of acquisition period

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.
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4 Feb. 2022

Landsbankinn utilises authorisation to buy back own shares

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.
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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.
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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.
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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.
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