Ambitious and evolving human resources

In the autumn months, an updated HR policy was published in which greater emphasis was placed on gender equality than before, with a strong focus on inclusion. Until then, Landsbankinn had addressed equality issues in three separate policies: the HR policy, the equality policy, and the equal pay policy. With the update, presentation was simplified, priorities  clarified and equality and diversity made more visible as cross-cutting themes within the Bank’s HR activities. The policy priorities were developed in collaboration with a working group composed of employees from various divisions of the Bank. 

Updated HR policy supports equality 

The gender ratio within the Bank is balanced and has been so for some time, although imbalances emerge in certain roles and job categories. When employment ceases or organisational changes are implemented, these ratios are deliberately taken into account, with the guiding principle of promoting long-term balance while at the same time ensuring a professional and transparent recruitment process. Progress in this area is by nature gradual; however, the situation and the impact of measures are continuously monitored. 

The implementation of the updated HR policy also entails a clearer framework for follow-up and regular assessment of the status of equality matters. Emphasis will be placed on monitoring developments in gender ratios, equal pay and participation in training and career development, so that equality and diversity continue to be an active part of the Bank’s day-to-day operations and decision-making. 

Job satisfaction  

Landsbankinn closely monitors employee satisfaction and well-being and conducts at least three surveys each year in which employees are given the opportunity to share their experiences. All objectives related to human resources metrics were achieved during the year. Only once before has employee satisfaction measured higher than in October of 2025. In that survey, 95% of employees confirmed that they strongly or somewhat agree that they are satisfied with the company as a workplace.  

Employees’ perception of internal controls and risk culture are measured annually. The results indicate that employees’ knowledge of the rules governing their roles is very strong, with 97% stating that they are well acquainted with them. During the year, special emphasis was placed on sharpening procedures and rules concerning mandatory training to ensure consistency, quality and follow-up. The project involved clearly defining which training is considered mandatory, who is responsible for it and how participation is monitored. The project supports the organisation’s risk culture.

Preparation of TM employees for a new work environment 

Projects related to the integration of TM into Landsbankinn’s work environment were a major focus during the year. Strong emphasis was placed on clear and timely communication to TM employees from the outset, training on what a project-based work environment entails and targeted education and training on products, services and sales techniques. Four workshops were held for TM employees, where they were prepared for working in a project-based workspace and for the move to new premises in the city centre. The workshops addressed the challenges associated with major changes and ways to maintain positive communication and mindset. Participation was high, with 85% of TM’s employees taking part.  

Extensive, tailored digital training was developed to support the changes and to explain the products and services of both companies. The objective is for all employees to have a comprehensive understanding of the solutions offered by both TM and the Bank. During the year, targeted training also took place in which TM specialists trained a group of Bank employees as insurance sales advisors and basic training in insurance services was offered to the entire bank front line. 

Employee conference and management summit  

As a rule, an employee conference is held every other year, when all employees of Landsbankinn are invited to attend a meeting and social event. The focus of the 2025 employee conference was on team unity and the shared success of Landsbankinn, TM and Landsbréf. The key priorities for the coming year were reviewed at a high level, with insurance sales and fee-based income identified as strategic focus areas. The event was held at Harpa and Reykjastræti 6 and was highly successful.  Landsbankinn’s facilities once again demonstrated how well they serve both as a workplace and as a venue capable of hosting and bringing together the entire team for celebratory occasions.   

Following the employee conference, a management summit was held, bringing together all managers from the Bank, Landsbréf and TM to explore objectives and opportunities in greater depth. Managers from different units also shared their experiences regarding achievements and opportunities. Managers actively participated in roundtable discussions, focusing on how their respective teams could contribute to the Bank’s goals. The summit was successful and characterised by strong collaboration and a clear emphasis on the Group’s shared future vision.  

During the event, a new platform was introduced for managers to access advisory services and coaching through Kara Connect. In addition to the offerings available via Kara Connect, managers are regularly provided with leadership training and shorter courses to strengthen their capabilities in their managerial roles. Events such as the employee conference day and management summit are important in aligning activities, celebrating achievements and creating space to focus on the future.   

Job development and education 

Following substantial development of learning and development activities in recent years, a deliberate decision was made to offer a more streamlined platform than before. At the same time, the number of longer courses was increased, and popular workshops were repeated due to strong demand. The offering covers a wide range, from specialised, job-related skills to personal development and everything in between. The format of the training was equally diverse, including short lectures, workshops, courses and online modules.  

The education platform is developed in alignment with the Bank’s strategy, key objectives and business plans, and is designed to address real operational and business needs. Emphasis is placed on adapting learning initiatives to a constantly evolving work environment and the growing need for new skills.  

Education platform 

In 2025, a total of 71 events were scheduled under optional training: 38 in the spring semester and 33 in the autumn semester. When broken down by target group, 36 events were open to all employees, 31 were tailored training sessions and 4 were classified as leadership development. 

Each year, a wide range of e-learning is offered. We develop the majority of this digital training internally in collaboration with the Bank’s experts, enabling it to be precisely tailored to our target groups. When designing e-learning content, emphasis is placed on developing material with long-term relevance that does not require frequent updates. The content is therefore typically available in the learning management system for a defined period. Each year, new e-learning modules are added and existing material is reviewed and updated as needed. This year, seven new online courses were launched and five were updated.  

To provide employees with a clear overview of the offering, training is organised into categories. These categories reflect and support the three pillars of Landsbankinn’s strategy: Satisfied customers, continuous development, and passion for success, as well as the Bank’s HR policy.  

In addition to these categories, mandatory training is provided. Mandatory training addresses the Bank’s and employees’ legal and ethical obligations. It ensures that all employees have a clear understanding of the responsibilities, rules, and standards that underpin trust and reliability in the Bank’s operations.  

Engagement and participation

It is encouraging to see that participation in training (number of attendees at learning events) increased between years, despite a smaller overall offering than in 2024. Training engagement (proportion of employees who participated in learning activities, both e-learning and in-person events) also remained high. Excluding mandatory training, 90% of employees undertook training during the year, compared with 94% in 2024. Year-over-year comparisons are partially affected by the increase in headcount following the addition of approximately 100 employees from TM. Nevertheless, overall engagement remains strong and close to the previous year’s level. 

Each employee attended on average 4.9 education or training events during the year. Looking at gender distribution, participation in optional training is relatively balanced, with 92% of women and 89% of men taking part. 

Participation in optional training is part of metrics under the strategic pillar continuous development. The goal is that 45% of employees attend optional training over the year. On average, 44.7% of employees had attended such training by the end of December 2025. 

Human resources are a key component of all of Landsbankinn’s operations and have a decisive impact on the Bank’s performance. With a clear focus on development, equality and employee well-being, a solid foundation is laid for a strong and sustainable workplace culture.