Annual & Sustainability Report
2022 was a good year for Landsbankinn and core operation was successful. We participate actively in responsible development of industry, are leading in construction project financing and offer competitive terms and first-rate service. Use of the Bank’s digital solutions continues to increase, customer numbers continue to rise and income from varied activity keeps growing while operating expenses remain stable.
Active personal customers
Market share in personal banking
Ranked highest for four years
Landsbankinn was ranked highest by banking customers in the Icelandic Performance Satisfaction Index 2022, for the fourth year in a row.
New corporate customers
Robust corporate finance
Landsbankinn Corporate Finance completed several successful projects in 2022, including coordination of share capital increases, listing on the market, many sale processes and the sale of new bond classes. The team has grown larger and opportunities abound.
Leading in sustainability
In order to take effective measures to mitigate climate change, we need to analyse and identify opportunities. We were the first domestic bank to measure emissions from our credit portfolio and intend to continue to lead the field in sustainable development, not just in Iceland but internationally.
use of the app by businesses
of car loans are for electric cars
"Landsbankinn’s performance in 2022 was good and the Bank achieved most of its targets. A clear strategy and focused work has led to a great influx in both retail and corporate customers, and the Bank’s market share in the retail marked has never measured higher."
"Robust service to corporates and investors plus our highest share in the retail market yet - there are opportunities for further advancement in these conditions. We counter competition with good access to experienced employees, a great app and fair terms. That’s Landsbankinn, an ever-smarter bank."
Landsbankinn’s profit in 2022 was ISK 17.0 billion after taxes, compared with ISK 28.9 billion in 2021. After-tax return on equity for 2022 was 6.3%, compared with 10.8% the previous year.
Return on equity
Total capital ratio
We are leading in sustainable development and aim to continue on that path. We are an influential contributor to public debate about economic affairs and educational activities. We are an active participant in local communities around the country and in numerous initiatives in the field of culture, sports, human rights, innovation and more.
We want our customers to be able to tend to all their banking business anywhere and anytime. In 2022, we continued to introduce new features in the app and online banking, made Aukakrónur available on phones and launched the instantly popular Save in App. We also continued to strengthen our core systems, as progress and development must be built on solid technological foundations.
Landsbankinn’s strategy is entitled “Landsbankinn, an ever-smarter bank”. The title is intended to reflect the Bank’s vision of continuous development and emphasis on personal banking service in a constantly changing world. Implementation of the strategy began in 2021. The strategy was revised towards the end of 2022 as we had achieved several goals ahead of schedule.