Landsbankinn hf.: Landsbankinn's results for the first half of 2025

Landsbankinn’s profit in the first half of 2025 amounted to ISK 18.3 billion after tax, ISK 10.4 billion thereof in the second quarter. Annualised ROE was 11.5% as compared with 10.5% for the same period the previous year. The net interest margin as a ratio of average total asset position was 2.9% and the net interest margin of domestic households was 2.1% during the period. Net interest income amounted to ISK 32.5 billion and net fee and commission income was ISK 6.2 billion.  TM’s...

Reykjavik, 17/07/2025 (informazione.news - comunicati stampa - servizi)

 “The Bank’s strong half-year results reflect its solid position. A broad range of services contributes to stable and sound operations, and continuous improvements enhance customer satisfaction. Significant market volatility in the past three months has impacted returns from investment assets but fee and commission income increased year-over-year. Defaults have not increased despite persistently high interest rates, which is encouraging. 

There has been a noticeable slowdown in the Bank’s mortgage lending, alongside reduced demand for non-indexed mortgages. On the other hand, corporate lending has grown steadily. There is strong growth in deposits and market funding has also been successful. The Bank’s issuance of EUR 300 million in green bonds in June was at the most favourable terms it has received in many years, following an upgrade to the Bank’s credit rating. With this issuance, all of the Bank’s general bond issues in euros are now green. 

The integration of TM into the Landsbankinn group is progressing well. We have made several organisational changes and operations to best leverage the group’s strengths and the results so far are promising. Our focus is on increasing TM’s market share in the insurance sector by boosting insurance sales through Landsbankinn’s distribution network, as well as maintaining TM’s strong customer relationships, particularly with corporate clients. 

Landsbankinn recently advertised for sale the beautiful and historic building at Austurstræti 11, along with three adjacent properties. The sales process has not yet concluded and emphasis is being placed on conducting it carefully and professionally. The Bank has a long-standing history in the city centre, as does TM, which in June moved its main office operations back down-town, to Kalkofnsvegur. At the same time, 24 TM employees transferred to the Bank and TM’s branch was merged with Landsbankinn’s branch at Reykjastræti 6. As is the case with Landsbréf, TM shares various services with Landsbankinn. Close cooperation within the group is key to achieving success and continuing to provide excellent customer service. By leveraging all our strengths to support our customers, we contribute to a prosperous future for them and for society as a whole.” 

For further information contact:

Public Relations,  pr@landsbankinn.is

Investor Relations,  ir@landsbankinn.is

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