Landsbankinn

Landsbankinn hf

Government-owned corporation (from 2008)

Private (2003-2008)
Government-owned corporation (prior to 2003)
Industry Banking
Predecessor Landsbanki
Founded 9 October 2008
(history traces back to 1885)
Headquarters Reykjavík, Iceland
Area served
 Iceland
Key people
 Steinþór Pálsson
(CEO)
Tryggvi Pálsson
(Chairman)
Products Consumer banking, corporate banking, mortgage loans, private banking, private equity, wealth management, credit cards,
Revenue Increase ISK 92.832 billion (2013)[1]
Increase ISK 41.042 billion (2013)[1]
Profit Increase ISK 28.759 billion (2013)[1]
Total assets Increase ISK 1.151 trillion (2013)[1]
Total equity Increase ISK 241.359 billion (2013)[1]
Owner 98% by Icelandic State Financial Investments
2% by old Landsbanki receivership[2]
Number of employees
 1,233 (ultimo 2012)
Website landsbankinn.is

Landsbankinn (literally "the national bank", originally NBI hf, also known as Nýi Landsbanki, Icelandic for "new national bank") is an Icelandic bank headquartered in Reykjavík. It was established in 2008 by the Icelandic government out of the domestic operations of its predecessor Landsbanki which failed during the 2008–2011 Icelandic financial crisis. It is one of the largest banks in Iceland and the history of its predecessor goes back to 1885.

The bank has been state owned since its establishment and its current shareholders are the Icelandic State Financial Investments with 81.33% of the shares in the bank, while the remaining 18.67% of the shares are currently owned by the winding-up receivership (Landsskil) for the old bankrupt Landsbanki.

History

The headquarters in Reykjavík

NBI hf was created 9 October 2008, after the government had taken control of the insolvent Landsbanki two days earlier and decided to split all domestic operations into this new surviving version of the bank, while leaving the remaining foreign operations of Landsbanki for bankruptcy and winding-up proceedings. The total assets value declined roughly to a third for the new bank, when comparing to the previous size for the old version of the bank. The number of employees were also reduced from 2770 in 2007, to only 1233 in 2012.

In April 2011, the legal name was changed from NBI hf. to Landsbankinn hf.[3]

See also

References

  1. 1 2 3 4 5 "Annual Report 2013" (PDF). Landsbankinn. 31 December 2013. Retrieved 15 October 2014.
  2. ↑ "Breytt eignarhald á Landsbankanum hf." [Changed ownership of Landsbankinn hf.] (in Icelandic). 11 April 2013. Retrieved 5 March 2015. Breyting hefur orðið á eignarhaldi Landsbankans frá og með deginum í dag. 18,67% hlutur sem verið hefur í eigu Landskila fyrir hönd slitastjórnar LBI hf. er nú kominn yfir til íslenska ríkisins og Landsbankans hf. í samræmi við samkomulag þessara aðila frá desember 2009. Íslenska ríkið á nú 98% í bankanum og Landsbankinn hf. heldur á 2% hlut.
  3. ↑ http://www.bankasysla.is/eignir/landsbankinn/

External links

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