Investor relations

Results of Landsbankinn’s 2022 Annual General Meeting

23 March 2022

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.

The Bank’s AGM was held remotely and streamed from the Bank's offices at Austurstræti 11.

Helga Björk Eiríksdóttir, Chairman of the Board of Directors, delivered the Board’s report for 2021 to the AGM and Lilja Björk Einarsdóttir, CEO, reviewed the Bank’s operation, strategy and activities. The annual financial statements for the past operating year were approved, as was the proposed Remuneration Policy and remuneration to Directors of the Board. The AGM elected the Auditor General as the Bank’s auditor and the Auditor General, in accordance with an authorisation to outsource tasks, nominated PricewaterhouseCoopers ehf. as auditor of the annual financial statements of the Bank for 2022.

The following persons were elected Directors and Alternates, to sit on the Board of Directors until the Bank’s next AGM.

Directors:

Helga Björk Eiríksdóttir (Chairman)
Berglind Svavarsdóttir
Elín H. Jónsdóttir
Guðbrandur Sigurðsson
Guðrún Blöndal
Helgi Friðjón Arnarson
Thorvaldur Jacobsen

Alternates:

Sigríður Olgeirsdóttir
Sigurður Jón Björnsson

More about Landsbankinn's AGM

Landsbankinn’s Annual & Sustainability Report

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.

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.

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.

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

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

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.

Results of Lands­bank­inn’s 2022 Annual Gener­al Meet­ing