25. October 2017 - News and Notifications
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
News and Notifications - 07 May 2020 04:55 PM
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.
News and Notifications - 24 April 2020 06:00 PM
S&P Global Ratings has today announced a lowering of Landsbankinn’s long-term credit rating. The credit rating is lowered by one notch, to BBB/A-2 with stable outlook.
News and Notifications - 22 April 2020 03:03 PM
The Annual General Meeting of Landsbankinn was held on 22 April 2020 at the Bank’s headquarters in Austurstræti 11, Reykjavík. At the AGM, Helga Björk Eiríksdóttir, Chairman of the Board of Directors, presented the report of the Board of Directors, and Lilja Björk Einarsdóttir, CEO, spoke of the Bank’s solid standing and good performance in 2019.
Landsbankinn hf. Austurstræti 11, 155 Reykjavík, Reg. No. 471008-0280
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