The Bank is a large, active participant in the Icelandic economy and is proud to pay its taxes to the community at large. However it should be noted that taxes and levies on Icelandic financial institutions are amongst the highest in the world.
Chief Executive’s review
Íslandsbanki has clearly distinguished itself from its competitors in terms of strategy, innovation and performance. For four years in a row, Íslandsbanki has been named Iceland’s #1 bank in the Icelandic Customer Satisfaction Index.
Of the Bank's net profit, ISK 15.1bn is profit from regular operations.
Íslandsbanki issued a EUR 500m benchmark bond in August 2016 – at the time it was the lowest coupon for any Icelandic bank since the financial crisis and largest size.
ROE from regular operations normalised for 15% CET1 was 10.7%.
The only Icelandic bank to have investment grade ratings from both S&P and Fitch, Íslandsbanki recently received upgrades to BBB/A-2 and BBB/F3 respectively.
New mortgage lending was up 19% over the year and Íslandsbanki was the only bank in Iceland to gain market share in 2016.
For four years in a row, Íslandsbanki has been named Iceland’s #1 bank in the Icelandic Customer Satisfaction Index.
Íslandsbanki’s Annual Report 2016, together with the Consolidated Financial Statements and Pillar 3 Report, provides an extensive overview of the Bank‘s operations and business activities over the year.
The reports are available in a PDF format.
In addition, all 2016 investor material, including the press release, fact sheet, fact book and video, is available on the IR website under financials.