Landsbankinn

Landsbankinn (literally "the National bank"), originally NBI hf, is an Icelandic bank headquartered in Reykjavík. It was established in 2008 by the Icelandic government out of the domestic operations of its predecessor Landsbanki which failed during the 2008–2011 Icelandic financial crisis. It is the largest bank in Iceland and the history of its predecessor goes back to 1885. In December 2017, the bank had just over 123,000 private customers and just over 13,500 corporate customers. The bank has 37 branches around Iceland. In 2018, Landsbankinn had a 37,8% market share in the retail market and 34% in the corporate banking market.

Landsbankinn hf
TypeGovernment-owned corporation (from 2008)
Private (2003-2008)
Government-owned corporation (prior to 2003)
IndustryBanking
PredecessorLandsbanki
Founded9 October 2008
(history traces back to 1885)
HeadquartersReykjavík, Iceland
Area served
Iceland
Key people
Hreiðar Bjarnason
(Interim CEO)
Helga Björk Eiríksdóttir
(Chairman)
ProductsConsumer banking, corporate banking, mortgage loans, private banking, private equity, wealth management, credit cards,
Revenue ISK 85.786 billion (2017)[1]
ISK 53.512 billion (2017)[1]
ISK 19.766 billion (2017)[1]
Total assets ISK 1.192 trillion (2017)[1]
Total equity ISK 246.057 billion (2017)[1]
OwnerIcelandic State Treasury (98,2%)
Landsbanki (1,6%)
Public float (0,2%)[2]
Number of employees
997 (End of 2017)
Websitelandsbankinn.is

History

NBI hf was created 9 October 2008, after the government had taken control of the insolvent Landsbanki two days earlier and decided to split all domestic operations into this new surviving version of the bank, while leaving the remaining foreign operations of Landsbanki for bankruptcy and winding-up proceedings. The total assets value declined roughly to a third for the new bank, when comparing to the previous size for the old version of the bank. The number of employees were also reduced from 2770 in 2007, to only 1233 in 2012.

In April 2011, the legal name was changed from NBI hf. to Landsbankinn hf.[3] The bank has been state owned since its establishment. In December 2009, the Icelandic State Treasury owned 81.33% of the shares and the remaining 18.67% of the shares were owned by (Landsskil). In April 2013, the Icelandic State Treasury acquired 16,67% of Landsskil's shares and thus the Treasury owned 98% of the shares. The remaining 2% of the shares are owned by Landsskil and various other investors.[4]

See also

References
  1. "Annual Report 2017" (PDF). Landsbankinn. 15 February 2018. Retrieved 15 February 2018.
  2. "Eignarhald á Landsbankanum hf" (in Icelandic). 9 January 2020. Retrieved 9 January 2020.
  3. "Landsbankinn". bankasysla.is.
  4. Landsbankinn - Ownership. "Ownership", Landsbankinn, Reykjavík, 29 March 2015. Retrieved on 15 February 2018.

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