Landsbankinn

Landsbankinn hf
Government-owned corporation (from 2008)
Private (2003-2008)
Government-owned corporation (prior to 2003)
Industry Banking
Predecessor Landsbanki
Founded 9 October 2008
(history traces back to 1885)
Headquarters Reykjavík, Iceland
Area served
 Iceland
Key people
 Hreiðar Bjarnason
(Interim CEO)
Helga Björk Eiríksdóttir
(Chairman)
Products Consumer banking, corporate banking, mortgage loans, private banking, private equity, wealth management, credit cards,
Revenue Increase ISK 85.786 billion (2017)[1]
Increase ISK 53.512 billion (2017)[1]
Increase ISK 19.766 billion (2017)[1]
Total assets Increase ISK 1.192 trillion (2017)[1]
Total equity Increase ISK 246.057 billion (2017)[1]
Owner 98% by Icelandic State Financial Investments
2% by old Landsbanki receivership[2]
Number of employees
 997 (End of 2017)
Website landsbankinn.is

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.

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. 1 2 3 4 5 "Annual Report 2017" (PDF). Landsbankinn. 15 February 2018. Retrieved 15 February 2018.
  2. ↑ "Breytt eignarhald á Landsbankanum hf" [Changed ownership of Landsbankinn hf.] (in Icelandic). 11 April 2013. Retrieved 5 March 2015. Breyting hefur orðið á eignarhaldi Landsbankans frá og með deginum í dag. 18,67% hlutur sem verið hefur í eigu Landskila fyrir hönd slitastjórnar LBI hf. er nú kominn yfir til íslenska ríkisins og Landsbankans hf. í samræmi við samkomulag þessara aðila frá desember 2009. Íslenska ríkið á nú 98% í bankanum og Landsbankinn hf. heldur á 2% hlut.
  3. ↑ "Landsbankinn". bankasysla.is.
  4. ↑ Landsbankinn - Ownership. "Ownership", Landsbankinn, Reykjavík, 29 March 2015. Retrieved on 15 February 2018.

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