Landsbankinn signs a loan facility with Nordic Investment Bank
Landsbankinn and Nordic Investment Bank (NIB) have signed a new loan facility where Landsbankinn borrows USD 75 million with a maturity of seven years to finance small and medium-sized enterprises (SME’s) and environmental projects in Iceland. This is the third loan facility NIB has agreed with Landsbankinn, older agreements were signed in 2015 and 2017.
Henrik Normann, NIB President & CEO:
“The cooperation between NIB and Landsbankinn has proven to be very successful. Together with Landsbankinn, we are able to provide long-term finance – also in US dollars – to the many small and medium-sized enterprises in Iceland.”
Lilja Einarsdóttir, Landsbankinn’s CEO:
“The ongoing collaboration with NIB is great for Landsbankinn. It combines our constant drive to improve funding cost with the bank’s vision of long term sustainability and support to growing businesses in Iceland.”
NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The bank finances both private and public projects, both in and outside the member countries. NIB’s credit rating is AAA/Aaa from S&P Global and Moody’s.
On the back of solid financial results for 2018, Landsbankinn hf. has today concluded the sale of senior unsecured floating rate bonds with a maturity of three years in NOK 1,000m and SEK 500m.
Landsbankinn's after-tax profit in 2018 was ISK 19.3 bn. Return on equity (ROE) was 8.2% in 2018, the same as in 2017. The cost-income ratio decreased between years and was 45.5% in 2018.More
Arion Bank published financial results for 2018. Íslandsbanki published financial results for 2018 as well as an Annual Report and Pillar 3 Report. The Government debt Management Agency published its monthly Market Information report. Landsbankinn issued bonds in NOK and SEK.