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S&P upgrades Landsbankinn's rating to BBB+/A-2 with a stable outlook

S&P Global Ratings has upgraded Landsbankinn's rating from BBB/A-2 to BBB+/A-2 and considers the outlook to be stable. S&P's issued its new rating on Landsbankinn today, 25 October 2017.

S&P's announcement mentions continued strong economic growth in Iceland, with improving economic resilience and falling private sector debt, partly offset by concerns for increasing economic imbalances. The revision of Landsbankinn's rating is further said to be a reflection of the Bank's very strong financial position which S&P does not expect to change, even though the Bank's efforts to optimise its capital structure are on-going. Considering the above factors, S&P raises its long-term rating on Landsbankinn to BBB+ and affirms the A-2 short-term rating. The stable outlook reflects S&P's expectation that economic development in Iceland will continue to remain supportive and that Landsbankinn will maintain very strong risk-adjusted capitalisation.

Lilja Björk Einarsdóttir, CEO of Landsbankinn: "This upgrade of Landsbankinn's rating by S&P reflects the strong standing of the Bank and of the economy in Iceland and is in line with the Bank's expectations. Landsbankinn's rating with S&P has now been raised by three notches over the past three years. A higher rating, alongside other factors, has led to the Bank achieving more favourable terms and having easier access to international financing in recent years."

S&P reports and announcements are accessible on the Landsbankinn website


Forsíða - 30 July 2020 04:05 PM

Financial results of Landsbankinn in H1 of 2020

Landsbankinn's after-tax performance was negative by ISK 3.3 billion during the first half of 2020, compared with a profit of ISK 11.1 billion during the same period in 2019. Loan impairment amounted to ISK 13.4 billion during the period, equal to about 1.1% of the bank‘s loan portfolio, compared with an impairment of ISK 2.4 billion in the same period last year.


Forsíða - 24 July 2020 01:50 PM

Landsbankinn is the best bank in Iceland in the assessment of Euromoney

The international business and finance magazine Euromoney has chosen Landsbankinn as the best bank in Iceland, and this is the second year in a row that the bank receives this recognition.


News and Notifications - 07 May 2020 04:55 PM

Financial results of Landsbankinn for the first three months of 2020

In the first three months of 2020, Landsbankinn's after-tax results were negative by ISK 3.6 billion, compared with an ISK 6.8 billion profit for the same period in 2019. Loan impairment amounted to ISK 5.2 billion in the period, compared with impairment of ISK 1 billion in the same period last year.