According to Art. 19 of the Act on Financial Undertakings, Íslandsbanki is obliged to state on its website the names and proportional ownership of all of those who own more than 1% of the Bank's shares at any given time. If a legal entity owns more than 1% of the Bank‘s shares, it shall be stated which individual or individuals are the beneficial owners of the legal entity in question. Beneficial owner in this regards, means an individual or individuals who have a direct or indirect ownership in a company amounting to 10% or more of the shares or voting rights or is otherwise capable of exercising substantial influence over the company in question.
Information on shareholders and the size of their holding is based on information from Nasdaq CSD as the Bank's share register and information on beneficial owners is based on information available from public sources. The information is compiled and processed from various sources, including Monitor by Modular Finance AB and Morningstar. The Bank has four days to update its website from the time that the changes are made to the ownership. Note, in case of fund management entities, the beneficial owner of the company is not necessarily the beneficial owner of the underlying funds. Furthermore, information on the holdings of individual funds is published jointly under the name of their management company.
The State Ownership Policy for financial undertakings, from February 2020, sets out, e.g. the State’s goals for holdings in financial undertakings and the main principles of the Ownership Policy
Icelandic State Financial Investments (ISFI) and Íslandsbanki entered into an agreement on the basis of Act No. 88/2009 on Icelandic State Financial Investments.