IntroductionÍslandsbanki is an all-purpose commercial bank based in Reykjavík, Iceland, with a history dating back to 1875. After the 2008 financial crisis, the bank was restructured from Glitnir Bank's domestic operations and began a phased privatization in 2021. As of 2022, Iceland's National Treasury still holds a 42.5% stake in the bank.
As a major player in the Icelandic market, Íslandsbanki has a market share of around 20% to 40% and operates 12 branches and 33 ATMs, building one of the most efficient network of outlets in the country.
supervised
The bank is regulated by the Icelandic Financial Supervisory Authority (FME) and participates in the National Deposit Insurance Scheme. In 2024, Íslandsbanki was fined ISK 470 million for administrative violations, but its overall compliance status remained stable.
financial health
At the end of 2024, Íslandsbanki had a common equity tier 1 capital adequacy ratio (CET1) of 20.1%, a total capital adequacy ratio of 23.1%, and a liquidity coverage ratio (LCR) of 190%, well above regulatory requirements. The non-performing loan ratio remained unchanged at 1.8%, demonstrating solid asset quality.
deposit and loan
productsThe bank offers a variety of demand and term deposit options, as well as high-yield savings accounts and large certificates of deposit (CDs). Loan products include home loans, car loans, and personal lines of credit, with interest rates and thresholds based on customer qualifications, and flexible repayment options.
Íslandsbanki's digital service experience is superior, with its mobile app and online banking platform integrating features such as facial recognition, real-time transfers, bill management, and investment tools. In addition, the bank partnered with Meniga to provide personalized financial planning tools and cashback rewards to increase customer engagement and satisfaction.
customer
serviceÍslandsbanki offers round-the-clock phone support, live chat, and social media response services. Its complaint handling mechanism is efficient, the average resolution time is short, and user satisfaction is high. In addition, the bank offers multilingual support to meet the needs of cross-border users.
safeguardsÍslandsbanki participates in the National Deposit Insurance Scheme to ensure the safety of customer funds. At the same time, the bank employs anti-fraud technologies such as real-time transaction monitoring and is ISO 27001 certified to ensure data security.
Íslandsbanki offers fee-free accounts for students, exclusive wealth management products for the elderly, and green financial products to meet the needs of different customer groups. For high-net-worth clients, the bank offers private banking services and customized financial solutions.
market
positionÍslandsbanki is one of Iceland's leading banks with one of the largest assets in the world. The bank has won accolades such as "Best Digital Bank" and "Most Innovative Bank".
