Landsbankinn, an ever-smarter bank  

Implementation of the strategy began in 2021. Landsbankinn, an ever-smarter bank, directly supports our purpose of being a trusted bank for the future. These words capture the Bank’s core purpose which builds on our history going back to the establishment of Landsbanki Íslands in 1886.  

Key value 

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. 

Pillars of the strategy  

The strategy rests on four solid pillars that support the key elements necessary to excel.  

Positive impact. Landsbankinn is a part of 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. The Bank’s positive impact is measured in dividend payments, success in sustainability work and participation in society. 

Robust operation has delivered steady and substantial profit and supported regular dividend payments. Should the proposal of the Board of Directors to the AGM for dividend payments to the owners of the Bank in 2025 be approved, dividends paid by Landsbankinn in 2013-2025 will amount to ISK 210.5 billion. In recent years, the Bank’s green funding has grown steadily and is currently 61% of total international funding. Eligible assets for sustainable projects also continue to grow, with over ISK 251 billion now allocated under the Sustainable Finance Framework. The Bank is a proud supporter of sports and youth activities as well as advancement initiatives around the country, with over ISK 200 million donated to around 600 such activities during the year. 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. 

Satisfied customers. This pillar is about simplifying life for customers and also relates to the personal aspect of Landsbankinn’s service. We always find a way to do even better and successfully respond to challenges. This involves initiative and the mindset behind Landsbankinn, an ever-smarter bank. We put customer satisfaction first and aim to offer accessible and secure banking anywhere and anytime.  

The Bank’s brand is strong and in a class of its own, according to EMC marketing research. We are focused on answering customer needs around the clock through robust self-service solutions in tandem with personal service provided by the Bank’s employees throughout Iceland. The message that we are better together has been heard and felt and is reflected in growing customer satisfaction, increased deposits and customer numbers. 

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.  

Technical innovations are not only a factor in developing customer service but also in solidifying the Bank’s operation and ensuring stability in financial services. Robust operations revolve largely around what’s under the hood; unseen, yet nevertheless the foundation for further development. This includes ambition and a positive attitude towards change. Success is achieved by a dynamic team that takes care of important tasks linked to operations, efficiency, development, quality, funding, financial statements, control and other indispensable functions.  

This is evident, among other things, in the fact that despite the Bank’s balance sheet increasing by 32% over the past 10 years, the number of full-time positions has decreased, operating costs have declined, and the cost-income ratio has never been lower. 

Passion for success. The workplace should be an environment that fosters excellence for both customers and employees. Passion for success refers to personal success but also joint success achieved by a positive and solution-oriented team that works across departments to provide exceptional service. Our corporate culture is success-driven, guided by the interests of our customers, the community, colleagues and owners. 

There is a strong learning culture within the Bank and emphasis is placed on building a first-rate work environment and success-driven corporate culture. Landsbankinn is a desirable workplace and surveys show that 88% of employees would recommend it as a fantastic place to work. 

Clear goals support the strategy 

Landsbankinn’s strength builds on its team, strong corporate culture, image and reputation. It rests on the Bank’s business relationships and understanding of its customer base. A sound balance sheet that can withstand shock further cements its strength.  

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 at each time and is the common thread in all undertakings. Clearly formed key goals supported by strategic projects, effective implementation and well-reasoned decisions guided by long-term interests result in trusted banking for our future.  

That’s Landsbankinn, an ever-smarter bank.