Landsbankinn, an ever-smarter bank  

Success is only achieved when everyone works toward common goals. Landsbankinn, an ever-smarter bank, is the concept that underpins the Bank’s business plan each year and shapes the Bank’s activities. Implementation of the strategy began in 2021. Landsbankinn, an ever-smarter bank, directly supports our purpose of being a trusted bank for our future. These words capture the Bank’s core purpose which builds on our history going back to the establishment of Landsbanki Íslands in 1886.   

We build on trust 

Trust is Landsbankinn’s key value. Trust is a common thread that runs through the entire operation, connecting customer relations and external partners to internal and general activities. Customers can trust that we are there for them and that the Bank is confidently managed.  

Three pillars of the strategy   

The strategy rests on three solid pillars that support the key elements necessary to excel. The pillars are focused on satisfied customers, continuous development and success. 

Satisfied customers 

Landsbankinn places strong emphasis on meeting its customers where they are, with services that are simple, accessible and reliable.  

The integration of TM into the Bank’s service offering is another example of how Landsbankinn simplifies customers’ lives. Insurance provided by TM is now available in Landsbankinn’s app and customers can collect Aukakrónur from their insurance transactions. These are Landsbankinn’s first steps toward integrated banking and insurance services. 

The interplay between digital services and a robust service network across the country is clearly reflected in customer satisfaction: Landsbankinn continued to rank highest among commercial banks in the Icelandic Customer Satisfaction Index. The Bank improved year-on-year and has not scored higher in nearly 20 years. 

Continuous development 

Robust and stable operations along with a strong balance sheet form the foundation for the progress that allows us to grow ever smarter. The results for 2025 reflect a solid and stable operation in a challenging economic environment. 

The Bank’s credit rating from S&P was upgraded, its competitive position in international financial markets was strengthened and all of the Bank’s financial targets were achieved. The cost-income ratio was 34.4%, among the lowest seen for comparable banks globally, despite the fact that numerous projects are being carried out in with the aim to strengthen the Bank’s operations and ensure the greatest possible stability in financial services.  

Passion for success 

Landsbankinn builds on the strength of its team. Passion for success refers to personal success but also joint success achieved by a positive and solution-oriented team that collaborates across departments to provide exceptional service.

A Gallup workplace survey conducted in autumn 2025 showed that 95% of employees were satisfied with Landsbankinn as a workplace and 97% felt they had very good knowledge of the rules governing their roles, reflecting a strong risk culture. A diverse range of training and learning opportunities continues to support the Bank’s adaptability in an ever-changing competitive environment. 

Positive impact and financial strength 

Landsbankinn is a part of and an active participant in its environment, Icelandic society. We are focused on being a positive and dynamic force throughout Iceland and on promoting future welfare for the country and its inhabitants. 

Robust operation has delivered steady and substantial profit and supported regular dividend payments. Total dividends and taxes paid by the Bank in 2025 amounted to ISK 37.9 billion. 

In recent years, the Bank’s green funding has grown steadily and is currently 64.2% of total international funding. Eligible assets for sustainable projects also continue to grow, with over ISK 276 billion now qualifying under the Sustainable Finance Framework.  

The Bank’s experts are active contributors to public debate on the economy and various current affairs, and emphasis is placed on education about finance on a broad basis.  

The year 2025 showed that Landsbankinn, an ever-smarter bank is not just a nice phrase but an active strategy that translates into real customer satisfaction, successful operation and a positive impact on Icelandic society.