S&P re­vises out­look on credit rat­ing from stable to pos­it­ive

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.

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.

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.

The Annual General Meeting of Landsbankinn hf. will be held on 19 April 2024, at 16:00, in Reykjastræti 6, 101 Reykjavík.

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.

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. 

The Annual General Meeting of Landsbankinn will be held on Wednesday, 20 March 2024, at 16:00, in Reykjastræti 6, Reykjavík.

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.

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 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.