Res­ults of the AGM of Lands­bank­inn 2021

The annual general meeting of Landsbankinn, held on 24 March 2021, agreed to pay a dividend amounting to ISK 4,489 million to shareholders. The dividend is equivalent to 42.7% of 2020 profits. As a result, total dividends paid by the Bank in 2013-2021 will amount to around ISK 146 bn. Three new individuals were elected to the Board of Directors at the AGM.
24 March 2021 - Landsbankinn

Landsbankinn's after-tax profit in 2020 was ISK 10.5 billion. Return on equity (ROE) was 4.3% and the cost-income ratio was 47.4%. The Bank made an ISK 12 billion provision for loan impairment, largely in response to the impact of Covid-19. The Bank’s equity at year-end 2020 amounted to ISK 258 billion and its capital ratio was 25.1%.

Landsbankinn's Annual and ESG Report 2020

First-rate service

Helga Björk Eiríksdóttir, Chairman of the Board of Directors, delivered the Board's report to the AGM, discussing Landsbankinn’s focus on supporting customers experiencing difficulties as a result of the Covid-19 pandemic. “We realise that the we will live with the effects of the pandemic going forward into 2022; happily, several individuals and companies are doing well. When conditions allow and the need arises, it is important for us to look to the future with our customers,” said Helga. In light of external circumstances, the Bank’s performance in 2020 was acceptable. The Bank’s long-term target is to achieve a 10% return on equity, having regard for bank tax, and Helga was optimistic about achieving this goal within a couple of years. She mentioned that the Bank will continue to emphasise minimising operating costs and that its operational efficiency has increased steadily. “The results of the past years’ work provides us with a solid momentum going forward into a future no doubt characterised by growing competition from both domestic and international parties. The Bank will meet these challenges with confidence and continue to offer first-rate services, both on digital platforms and with personal service and advice. We are extremely pleased to see satisfaction with our services measure high, with Landsbankinn topping the list of banks in the Icelandic Performance Satisfaction Index in 2020, the second year in a row. We are very proud of this success.”

Sound operation - simplify life for customers

Lilja Björk Einarsdóttir, CEO, spoke of Landsbankinn’s digital advances which have seen the Bank introduce over 40 innovative digital service solutions in the past 3 years. “Our digital solutions all aim to simplify life for customers and around 98% of daily banking by personal and corporate customers is now digital. We leverage digital technology to provide first-rate financial service with a personal touch. That’s Landsbankinn, an ever-smarter bank,” said Lilja. Customer satisfaction comes first at Landsbankinn and it has been a great recognition of the Bank’s strategy and efforts to see satisfaction with service score highly, both with regard to digital solutions and personal service. Emphasis on first-rate service and favourable terms have led to growth in the Bank’s market share, especially in the mortgage market, where market share has increased by from 22% to 26.3% in 2020.

Lilja described the Bank’s 2020 results as reflecting a sound, effective and stable operation. The Bank had been a staunch financial partner to its customers and responded to the needs of customers experiencing income loss as a result of the Covid-19 pandemic. “The Bank’s strong standing, good access to funding, robust market share and sound business relationships all give occasion to view the future in a positive light. In the long term, it is important to support and nurture strong companies that create jobs in Iceland and contribute to a flourishing and dynamic society,” said Lilja.

 

The following persons were elected regular members of the Board of Directors:

Helga Björk Eiríksdóttir (Chairman)

Berglind Svavarsdóttir

Elín H. Jónsdóttir

Guðbrandur Sigurðsson

Guðrún Ó. Blöndal

Helgi Friðjón Arnarson

Thorvaldur Jacobsen

The following persons were elected alternates to the Board of Directors:

Sigríður Olgeirsdóttir

Sigurður Jón Björnsson

Further information on Landsbankinn's AGM

 

 

 

 

 

 

 

You may also be interested in
Austurbakki
2 May 2024
Financial results of Landsbankinn for the first three months of 2024
Landsbankinn's net profit in the first three months of 2024 was ISK 7.2 billion. Return on equity (ROE) in the period was 9.3%, compared with 11.1% for the same period the previous year.
Austurbakki
19 April 2024
Results of the 2024 AGM of Landsbankinn
The annual general meeting (AGM) of Landsbankinn, held on 19 April 2024, agreed to pay a dividend amounting to ISK 16,535 million to shareholders.
Austurbakki
4 April 2024
S&P raises Landsbankinn’s credit rating to BBB+
International rating agency S&P Global Ratings today announced that it has upgraded the credit rating of Landsbankinn. The credit rating is raised by one notch, to BBB+ with stable outlook.
Austurbakki
27 March 2024
Annual General Meeting of Landsbankinn 2024
The Annual General Meeting of Landsbankinn hf. will be held on 19 April 2024, at 16:00, in Reykjastræti 6, 101 Reykjavík.
Austurbakki
19 March 2024
Landsbankinn’s AGM postponed to 19 April
A meeting of the Board of Directors of Landsbankinn hf. on 19 March 2024 determined to postpone the annual general meeting of the Bank, scheduled to be held on Wednesday, 20 March 2024. Following consultation with Icelandic State Financial Investments (ISFI), it was decided to hold the AGM on 19 April 2024.
Austurbakki
17 March 2024
Landsbankinn's acquisition offer for TM approved
Landsbankinn and Kvika Bank have agreed to enter into exclusive negotiations for the purchase by Landsbankinn of TM tryggingar hf. (“TM”) based on a purchase offer the Bank made for all equity in TM on 15 March. The proposed acquisition is contingent on such factors as due diligence and approval by the Icelandic Competition Authority and the Financial Supervisory Authority of the Central Bank of Iceland. 
Austurbakki
7 March 2024
Annual General Meeting of Landsbankinn 2024
The Annual General Meeting of Landsbankinn will be held on Wednesday, 20 March 2024, at 16:00, in Reykjastræti 6, Reykjavík.
Austurbakki
6 March 2024
Sixfold over-subscription in green bond issuance
On 5 March 2024, Landsbankinn concluded the sale of green bonds in the amount of EUR 300 million. This was the Bank’s fourth issuance of euro-denominated green bonds.
Austurbakki
5 March 2024
Acquisition by Landsbankinn of own shares under a buyback programme - end of acquisition period 2024
On 15 February 2024, Landsbankinn announced that the Bank would offer to purchase shares from shareholders under the terms of a buyback programme during the period 19 February 2024 to 4 March 2024. During the period, Landsbankinn acquired a total of 6,423,476 own shares at a share price of 12,8595, for a total amount of ISK 82,602,689.
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.
Cookies

By clicking "Allow All", you agree to the use of cookies to enhance website functionality, analyse website usage and assist with marketing.

More on cookies