Landsbankinn

What Landsbankinn does

Landsbankinn hf. is one of Iceland's three major full-service commercial banks, founded in 1886 and headquartered at Reykjastræti 6, Reykjavík, with securities listed on Nasdaq Iceland under ticker LBANK. The bank serves individual and business customers across Iceland through a hybrid distribution model combining a physical branch network in Reykjavík, Akureyri, Reykjanesbær, Selfoss, and Vestmannaeyjum with a digital platform built around the Landsbankaappið mobile app, Netbanki internet banking, electronic document signing, and a 24/7 ATM network. Core retail and corporate products include residential mortgages (up to 80% LTV standard, 90% for first-time buyers, with both fixed and variable rates), car loans with electric vehicle incentives, savings and goal-based accounts, payment cards (debit, credit, prepaid) supporting Apple Pay, Google Pay, and Visa, currency exchange, securities trading, and a B2B API for direct accounting system integration. The bank distributes insurance through its wholly-owned subsidiary TM tryggingar hf. and offers asset management via Landsbréf hf., with the Vild tiered loyalty program and Aukakr\u00f3nur rewards currency (redeemable at 200+ merchants) acting as customer retention and cross-sell engines. Revenue is generated primarily through net interest income on lending, with secondary streams from fees and commissions, capital markets activities (covered bond issuance, market making in government securities, AT1 and senior non-preferred bond programs in ISK, EUR, NOK, and SEK), and insurance distribution commissions, supported by an A+ S&P rating on its covered bond program.

Name

Landsbankinn

Legal name

Landsbankinn hf.

Website

https://landsbankinn.is

Company type

Public

Founded year

1886

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Landsbankinn is one of Iceland's three major full-service commercial banks, serving individuals and businesses through branches, mobile and online banking, payment cards, mortgages, and capital markets activities, with insurance distributed via its TM subsidiary.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Depository Credit Intermediation (5221), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Portfolio Management and Investment Advice (523940)

SIC

National Commercial Banks (6021)

akta.pro primary industry

Onshore Private Banking (Domestic HNW/UHNW) (FSAAABAA)

akta.pro secondary industry

Private Banking Cross-Border & International Wealth Services (FSABADAL)

Keywords

• Retail banking services
• Commercial banking
• Mortgage lending
• Corporate financing
• Capital markets services

Headquarters

HQ city

Reykjavík

HQ country

Iceland

HQ region

Europe

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Net Interest Income: Interest income from lending activities including mortgages, car loans, and corporate financing minus interest paid on deposits. Primary revenue driver for the bank.
2. Fee and Commission Income: Fees from payment services, account management, card transactions, and brokerage services. Also includes insurance distribution commissions through TM partnership.
3. Capital Markets Operations: Revenue from bond issuance activities, market making, and trading. The bank manages covered bond programs and conducts auctions for various securities.
4. Insurance Distribution: Commission revenue from insurance products distributed through partnership with TM tryggingar

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Landsbankinn hf. is a full-service Icelandic commercial bank providing retail and corporate banking products including residential mortgages (Íbúðalán), auto loans (Bílalán), savings accounts, payment cards, currency exchange, and securities trading. The bank also distributes insurance products through its wholly-owned subsidiary TM tryggingar, offers asset management via Landsbréf, and operates active capital markets activities including covered bond and green bond issuances. Services are delivered through a nationwide branch network, mobile app, internet banking, and phone support.

Product overview

Landsbankinn is a full-service Icelandic commercial bank offering a comprehensive digital banking platform with mobile app, internet banking, and branch services. The core product portfolio includes residential mortgages (Íbúðalán), auto loans (Bílalán), savings products, payment cards (debit, credit, prepaid), currency exchange, and securities trading. The bank operates through its loyalty program Vild (tiered benefits) and Aukakrónur rewards system, while insurance products are distributed through its TM partnership. Corporate banking services include B2B API integrations for accounting system connectivity, corporate financing, and business advisory. The digital experience centers on the Landsbankaappið mobile app and Netbanki online platform, with API products enabling custom financial technology solutions for business customers.

Differentiator

Problem solved

Functional benefit

Products and services

• Residential Mortgage Loans (Íbúðalán) Residential mortgage loans for individuals and first-time home buyers, offering up to 80% loan-to-value (90% for first-time buyers), fixed or variable interest rates, and terms up to 40 years. Available with multiple fixed-rate periods and indexed-variable options.
• Car Loans (Bílalán) Auto financing loans for individuals covering up to 80% of vehicle purchase price with terms up to 8 years. Electric vehicles receive 50% discount on origination fees and up to 0.6 percentage point interest rate reduction.
• Savings Products (Sparnaður) Retail savings products including bank accounts, savings accounts, and goal-based Markmiðsreikningur (target savings) with competitive interest rates and automated savings features accessible through the mobile app. Enhanced rates for Vild 2 and Vild 3 loyalty members.
• Payment Cards (Greiðslukort) Comprehensive card portfolio including debit cards, credit cards (with travel insurance), and prepaid Pláskort. Cards support contactless payments via Apple Pay and Google Pay, with withdrawal limits varying by card type, and Aukakrónur rewards on domestic card spending.
• Corporate Financing (Fjármögnun fyrirtækja) Business lending services including term loans, revolving credit facilities, and project financing tailored to small, medium, and large enterprises across various industries. Named example: US$70 million revolving credit facility to Amaroq Ltd. (doubled from US$35 million, maturing May 2028) for the Nalunaq gold mine in Greenland.
• Currency Exchange (Gjaldmiðlar) Foreign exchange services offering rates for multiple currencies including EUR, USD, GBP, NOK, SEK, DKK, and PLN with real-time exchange rate information displayed on the bank's markets platform.
• Securities Trading (Verðbréf) Securities trading platform for stocks and funds listed on Icelandic and international exchanges, accessible through the mobile app and internet banking.
• Landsbankaappið Mobile Banking App Mobile banking application for individual customers offering full account access, card management, savings features, loan applications, securities trading, goal-based savings (Spara í appi), and strong customer authentication through biometrics. Available on iOS and Android.
• Netbanki Online Banking Internet banking platform providing account management, fund transfers, payment services, securities trading, and loan management for both individual and corporate customers.
• B2B Direct Accounting Integration (Beintenging við bókhald) Business-to-business API integration allowing corporate customers to connect their accounting systems directly with the bank's services for automated payment processing and reconciliation. Enables customized financial technology solutions for business customers.
• Insurance Distribution (Tryggingar) Insurance products distributed through the bank's wholly-owned subsidiary TM tryggingar hf., including home insurance, travel insurance, vehicle insurance, and family insurance packages. Vild loyalty members receive up to 10% insurance premium refund. Family insurance customers (Fjölskylduleið TM) gain access to TM's Velferðartorg welfare services including psychologists, sleep advisors, and speech therapists.
• Covered Bond Program & Capital Markets Issuances Covered bond and capital markets issuance program conducted under the bank's EMTN programme, listed on Nasdaq Iceland and Euronext Dublin, including green bonds, AT1 securities, and senior non-preferred bonds across EUR, ISK, SEK, and NOK currencies. The bank also acts as market maker for Icelandic government securities alongside Arion banki, Íslandsbanki, and Kvika.
• Electronic Document Signing (Undirritun skjala) Electronic document signing service enabling secure digital signatures for banking documents and agreements, integrated with the bank's electronic identification systems.
• Digital Credit Assessment (Greiðslumat) Digital credit assessment service using electronic identification to gather data for creditworthiness evaluation, including income, expenses, and existing obligations. Supports loan underwriting decisions.

Quantifiable outcome

• 42% increase in Q1 2026 after-tax profit (ISK 11.2 billion vs ISK 7.9 billion in Q1 2025)
• +4 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability4 records

Feature3 records

Partnerships

Five partnerships are on record, tiered minor and core.

• TM Tryggingar (Velferðartorg)minorStrategic or Co-development Partner · 1 January 2026Wellness partnership offering Vild loyalty program members access to specialists including psychologists, sleep advisors, and speech therapists within 48 hours. First consultation is free. Available for family insurance customers (Fjölskylduleið TM).
• TM TryggingarcoreStrategic or Co-development PartnerLandsbankinn serves as registered insurance agent for TM, offering insurance products through its branch network and digital channels. The partnership provides bundled banking and insurance services with loyalty benefits including up to 10% insurance premium refund and access to TM's Velferðartorg (welfare services). TM is a subsidiary of Landsbankinn.
• Arion banki, Íslandsbanki, and KvikaminorOthersMarket making partnership for covered bond series. These banks act as market makers providing liquidity for Landsbankinn's covered bond issuances including LBANK CB 29, LBANK CB 32, and LBANK CBI 31 series.
• IcelandairminorGTM or Marketing PartnerCo-marketing partnership through loyalty program integration. Landsbankinn issues credit cards that accumulate Icelandair bonus points in addition to Aukakrónur rewards, providing cross-promotional benefits for both brands.
• 200+ Aukakrónur Partner MerchantsminorChannel Partner/ Reseller/ DistributorOver 200 merchants participate in the Aukakrónur reward currency ecosystem, accepting Aukakrónur as payment. Merchants offer additional bonus Aukakrónur for purchases, creating a network of retail partners.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Arion banki: One of Iceland's three major universal commercial banks, directly competing with Landsbankinn in retail mortgages, deposits, corporate lending, capital markets, and asset management across the same Icelandic customer base.
• Íslandsbanki: Icelandic universal commercial bank offering retail banking, mortgages, corporate lending, and capital markets services; co-market-maker with Landsbankinn for covered bonds and a direct head-to-head competitor in the domestic market.
• Kvika banki: Icelandic bank with corporate banking, capital markets, and asset management activities; competes with Landsbankinn in Icelandic investment banking, covered bond market making, and selected retail products.

Broad incumbents

• Nordea Bank Abp: Large Nordic universal bank offering retail, corporate, capital markets, and wealth management services; acts as dealer on Landsbankinn's SEK bond issuance and represents the broader Nordic incumbent set that Landsbankinn competes with for international funding and cross-border clients.
• DNB Bank ASA: Norway's largest bank with broad retail, corporate, and capital markets offerings; co-lead manager with Nordea for Landsbankinn's SEK issuance and a benchmark Nordic peer for funding access and balance-sheet scale.
• SEB AB: Major Nordic universal bank with strong corporate, capital markets, and wealth management franchises; comparable to Landsbankinn's broader product mix and serves as a benchmark for Nordic funding cost and execution.
• Danske Bank: Large Nordic universal bank with retail, corporate, and capital markets operations across the Nordics; provides a relevant scale and product-mix benchmark for Landsbankinn's deposit-funded lending and bond issuance activities.
• Svenska Handelsbanken: Nordic universal bank known for relationship-based lending and conservative funding; comparable to Landsbankinn's branch-based retail model and provides a benchmark for Nordic retail banking efficiency.
• UBS Group AG: Global wealth management and investment bank; comparable to Landsbankinn's wealth management ambitions via Landsbréf and to its international capital markets issuance profile, though operating at vastly larger scale.

Others

• Morgan Stanley: Arranger for Landsbankinn's ISK 16B AT1 issuance and a major international capital markets counterparty; not a direct retail competitor but a relevant ecosystem participant given its role in Landsbankinn's debt capital markets execution.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/landsbankinn
• YouTubeyoutube.com/channel/UCLyZXQeqk9MbpG2_dUfiCOQ
• Facebookfacebook.com/landsbankinn
• LinkedInlinkedin.com/company/landsbankinn
• Instagraminstagram.com/landsbankinn?igsh=ZHZ0YXBzOXcxbWRi
• TikToktiktok.com/@landsbankinn

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries2 records

Funding overview

Funding rounds7 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments16 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Landsbankinn