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Change in service at Íslandsbanki

Banking services have changed radically in recent years. As customers have used digital service options in ever-increasing numbers, visits to branch offices have declined. The COVID-19 pandemic has accelerated that trend, and use of app-based services has grown 400%.

Personal services strengthened in Laugardalur

The Bank’s Laugardalur branch will place greater emphasis on providing service to individuals. In addition to general banking, the Bank’s mortgage lending services will be situated in Laugardalur. Concurrent with these changes, the branches at Höfði and Grandi will merge with the Laugardalur branch. 

In the past year, visits to branches have declined by as much as 70% with increased use of digital solutions. After the merger, Íslandsbanki’s branches in the capital area will be located in Norðurturn/Smáralind, Laugardalur, and Hafnarfjörður.

Corporate banking centre in Norðurturn

Effective 8 June, services to small and medium-sized enterprises (SME) will be merged with the Bank’s corporate banking centre in Norðurturn, the Bank’s headquarters. Companies will still be able to carry out simpler banking transactions at any branch office, however. Íslandsbanki has been a market leader among SMEs, with the largest market share in greater Reykjavík. This will enable the Bank to provide even more flexible service to this important customer group.

Birna Einarsdóttir, Íslandsbanki Chief Executive Officer:

“In recent years, customers’ behaviour has changed dramatically, and the COVID-19 pandemic has accelerated that trend. We see a steep drop in visits to branch offices alongside a surge in app-based banking. We will continue to focus on digital solutions for simpler banking transactions but are determined to ensure that we provide personal service to customers making big decisions. Our new services for senior citizens have been extremely well received, and we intend to continue to develop them. With the corporate banking centre in Norðurturn and a strong personal banking centre for individuals in our Laugardalur branch, we can position ourselves to provide even better service to our customers.”