Annual & Sustainability Report
A clear strategy has yielded results in the form of new solutions for customers, increased satisfaction and improved and more efficient service. A record number of customers joined the Bank in 2021. Operations were successful - return on equity was good, revenues have grown from increased activity and operational efficiencies contribute to balanced cost levels.
Active personal customers
Market share in personal banking
Assets under management
Market share in mortgages
More satisfied customers
Landsbankinn was ranked highest by banking customers in the Icelandic Performance Satisfaction Index 2021, for the third year running.
mortgages for first-time buyers
Great strides in 2021
We calculated GHG emissions from the Bank’s loan book, updated our emphasis on work on the UN SDGs and issued two green bond series. We introduced the Bank’s Sustainable Financing Label, a savings account and fund that support sustainability.
Record number of new corporate customers
Around 2,500 corporates and sole proprietors joined Landsbankinn this year - a record increase. 90% onboarded independently. The Bank’s share in the corporate market is 33.6% and its share in corporate lending is just over 40%.
Best bank in Iceland by Euromoney
growth in portfolio management contracts
„Landsbankinn’s success in 2021 is largely grounded on successful work based on its strategy, approved in 2020. One of our key strategic goals is to enhance customer satisfaction. We are very proud and delighted that the Bank topped the Icelandic Performance Satisfaction Index in 2021, for the third year running, an outcome confirmed by our own customer satisfaction surveys.“
„The services we offer, digital service channels, personal advice or other, are usually the last link in a long chain. In order to offer first-rate service, the entire chain must hold. Landsbankinn’s chain is extremely strong and underpins the Bank’s success.“
Landsbankinn's operating profit after taxes amounted to ISK 28.9 bn in 2021 (2020: ISK 10.5 bn). After-tax ROE was 10.8% in 2021 (2020: 4.3%).
Return on equity (ROE)
We made great strides on our sustainability journey in 2021, working enthusiastically towards more sustainable finances that contribute to a better environment and society.
We are enthusiastic about simplifying life for our customers. In 2021, we introduced various new solutions to allow customers to finalise transactions easily and quickly in the app and online banking.
Since the beginning of 2021, we have actively worked on the Bank’s strategy titled Landsbankinn, an ever-smarter bank. At the core of our strategy is the ideal of mutual trust and personal approach to banking.