Publication of 2017 Annual Audited Financial Statements, Annual Report, Pillar 3 Report, and Social Responsibility Report
Íslandsbanki released its annual financial results for 2017 this morning. The Bank has now published its Annual Report, Pillar 3 Report, and Social Responsibility Report, which are intended to provide a broad overview of the Bank’s diverse activities from various points of view.
2017 was a year of development and change for Íslandsbanki, with emphasis on strengthening the foundations of the Bank, such as completing the new head offices at Norðurturn in Kópavogur, introducing an activity-based work environment, changing the organisational structure, and making progress on the overhaul of the Bank’s core systems. At the same time, operations were strong, and all business-generating units recorded a profit. The Bank recently topped the Icelandic Customer Satisfaction Index – for the fifth time – and was also named Iceland’s best bank by The Banker.
The Annual Report contains a wide-ranging summary of the Bank’s activities and policies, in addition to operational highlights from 2017. It includes a discussion of the many digital solutions that the Bank has recently rolled out. For instance, customers can now apply for and change their overdraft privileges in the Íslandsbanki app, which has already overtaken all of the Bank’s branches as the most-used channel for overdraft applications.
Also published, is a special Pillar 3 Report that provides market agents with information aimed at enhancing understanding of the Bank’s risk management and capital position, and liquidity position. The report states, among other things, that Íslandsbanki satisfied all internal and external requirements concerning risk limits in 2017 and that its liquidity and capital position remains strong.
The Social Responsibility Report is published concurrent with the Annual Report for the first time, in keeping with the Bank’s dedication to corporate social responsibility. The Bank has initiated nine projects focusing on responsible operations. One of the key projects in 2017 was Helping Hand, a programme under which Íslandsbanki employees give one day per year to a good cause.
A dynamic team of Bank employees participated in preparing the reports, which will provide both customers and stakeholders with insight into Íslandsbanki operations.
The above-mentioned reports, together with financial information, can be found on the Bank’s website