Created by Anna Mileiko 
Founded in February 2022, Indó sparisjóður hf. (Indo) is an innovative direct bank offering its products and services to individuals living in Iceland.Having passion for technology and finance, Indo is focused on keeping its banking model fair, simple and transparent. Indo offers current accounts, debit cards and credit cards.
In 2023, Indó sparisjóður hf. achieved the position of 6th largest bank in Iceland with a market share of 0.24%; its total assets grew by 1,352.13%.
Additionally, the bank became the 9th profitable bank in relation to its total assets showcasing -4.98% return on assets and -38.61% return on equity in 2023.
Also the lender held the 9th position regarging its loans-to-deposits (L/D) registering 0.01% L/D ratio in 2023.
Deposits up to 100,000 EUR are covered by Icelandic deposit guarantee scheme in Indó sparisjóður hf.
branch
online banking
Indó sparisjóður hf. ranks as the 6th largest bank in Iceland by total assets. In 2023 its total assets were 13,109.64 mln ISK, representing a 0.24% market share. It is also the 2nd largest savings bank in Iceland, commanding a 26.07% share among savings banks. In 2023 the bank's annual profit was -348.77 mln ISK.
Icelandic Depositors’ and Investors’ Guarantee Fund (TIF)Indó sparisjóður hf. protects deposits up to up to 100,000 EUR per depositor through Iceland's deposit guarantee scheme. The scheme applies to any credit balance made by natural persons, legal entities. The bank participates in the Icelandic Depositors’ and Investors’ Guarantee Fund (TIF), making regular contributions into it.
Lágmúla 6, 108, Reykjavík, Iceland
588-4636
https://indo.is/Indó sparisjóður hf. is located in Reykjavík.
Indó sparisjóður hf. is authorized and supervised by the Central Bank of Iceland.
