Landsbankinn's Report on Social Responsibility
Landsbankinn's Report on Social Responsibility for 2018 is now available on the Bank's website and is, as before, published only in electronic format. The report is a detailed review of social responsibility at Landsbankinn and the Bank’s incorporation of environmental, social and governance factors in its operation.
In 2018, Landsbankinn decided to work to achieve the United Nation’s Sustainable Development Goals (SDG), focusing on three of the goals: Gender equality (no. 5), decent work and economic growth (no. 8) and responsible production and consumption (no. 12). The Bank also decided to adhere to new Principles for Responsible Banking, espoused by the United Nations Environment Programme and international financial undertakings, and which are intended to contribute to the SDG.
Equality was very much in focus in 2018 and the Bank became a participant in Capacent’s Equality Indicator with comprehensive employee participation and worked to achieve legally required equal pay certification; a goal that has now been reached. Emphasis was placed on implementing a policy for responsible investment. The Bank’s policy on social responsibility is shaped to ensure that it is an integral part of core activities, investment and lending. Wide-reaching collaborations and financial support from the Bank, intended to contribute to a diverse and dynamic society, is also discussed in the report, as are changes in the finance sector, the changing nature of fraud, challenges relating to human resources etc.
Landsbankinn publishes an annual Report on Social Responsibility based on the principles of the Global Reporting Initiative (GRI). In 2018, the Bank received an award for the best CSR report when Festa, Excellence Iceland and the Iceland Chamber of Commerce granted the award for the first time. Landsbankinn is an active participant in the UN's Global Compact, UN PRI, is a founding member of the Iceland Sustainable Investment Forum (IcelandSIF), as well as Festa, Centre for Corporate Social Responsibility.
Read Landsbankinn's 2018 Report on Social Responsibility
Landsbankinn's after-tax profit in 2019 was ISK 18.2 billion. Return on equity (ROE) was 7.5% in 2019, as compared to 8.2% in 2018. Discounting the bank tax, ROE was 9.2% and the Bank’s target is 10% at a minimum, having regard for the impact of bank tax. The cost-income ratio decreased between years, was 42.6% in 2019 as compared to 45.5% in 2018.
Municipality Credit Iceland (MCI) finalised a private placement of new green bonds class LSS040440 GB on 19 February 2020. Landsbankinn Capital Markets coordinated the sale.More
Landsbankinn hf. announced today the results of a tender offer announced on 11 February 2020 where holders of its EUR 500,000,000 1.625 per cent. notes due 2021 (ISIN: XS1490640288) were invited to tender their notes for purchase by the bank against a cash payment. The tender offer was subject to the terms and conditions outlined in the tender offer memorandum dated 11 February 2020.More