Landsbankinn was established on 9 October 2008 but the history of its predecessor runs back to 1886. Landsbankinn is based on the domestic operations of Old Landsbanki Íslands hf.

Initial balance sheet

The bank's initial balance sheet was introduced in December 2009; at the same time, a settlement was negotiated between Landsbankinn (NBI hf., now Landsbankinn hf.) and Landsbanki Íslands hf. (now LBI hf.).

Under the terms of the settlement agreement, the National Treasury of Iceland acquired an 81.3% share in the bank and Landskil ehf., a subsidiary of Landsbanki Íslands hf., 18.67%. Total issued share capital amounted to ISK 24 billion.

Ownership of Landsbankinn changed as of 11 April 2013. The 18.67% share held by Landskil on behalf of the Winding-up Board of LBI hf. was transferred to the Icelandic State and 2% of shares came to Landsbankinn hf. in accordance with the agreement from 2009. The holding transferred to Landsbankinn was intended for disbursement among the bank's employees. On 30 September 2013, part of that asset was assigned to around 1400 current and former Landsbankinn employees.

The Icelandic State now holds 97.9% of shares in the bank, Landsbankinn hf. holds 1.3% and around 1400 current and former Landsbankinn employees hold 0.8%.

Ownership structure of Landsbankinn

  • The National Treasury: 97.9%
  • Landsbankinn hf.: 1.3%
  • Employees of the bank: 0.8%