Flag of Iceland>

Economy and Banking Sector of Iceland

Major Banks of Iceland

Rank
1
Total Assets
1,426.33 bln ISK  (+7.56%)
Market Share
37.15 %
Rank
2
Total Assets
1,199.49 bln ISK  (+6.11%)
Market Share
31.24 %
Rank
3
Total Assets
1,081.86 bln ISK  (-7.08%)
Market Share
28.18 %

#1: Landsbankinn hf.

Landsbankinn hf. was established on 7 October 2008 but the history of its predecessor dates back to 1886. The bank is owned by the National Treasury of Iceland with a 98.2%. Other shareholders own 1.8% of shares in the bank. Landsbankinn is a universal bank offering a full range of personal and corporate banking products and services.

Services
retail banking
business banking
corporate banking
asset management

Landsbankinn hf. is the 1st largest bank in Iceland in terms of total assets. In 2019 its total assets were 1 426,33 bln ISK, providing the bank with the market share of 37.15%. Landsbankinn hf. is the 1st largest commercial bank in Iceland (out of 4 commercial banks) having market share of 37.40% amongst the banks of this category. In 2019 the bank's annual profit was 18 235,00 mln ISK.

Landsbankinn hf. participates in the deposit guarantee scheme of Iceland. This scheme covers accounts up to 1,700,000 ISK per bank per depositor.

#2: Íslandsbanki hf.

Íslandsbanki hf. is an Icelandic universal bank providing retail and business banking products and services to individuals and business entities.

Services
retail banking
business banking

Íslandsbanki hf. is the 2nd largest bank in Iceland in terms of total assets. In 2019 its total assets were 1 199,49 bln ISK, providing the bank with the market share of 31.24%. Íslandsbanki hf. is the 2nd largest commercial bank in Iceland (out of 4 commercial banks) having market share of 31.46% amongst the banks of this category. In 2019 the bank's annual profit was 8 454,00 mln ISK.

Íslandsbanki hf. participates in the deposit guarantee scheme of Iceland. This scheme covers accounts up to 1,700,000 ISK per bank per depositor.

#3: Arion Bank

Arion Bank is an Icelandic universal bank providing retail, business and institutional banking products and services to individuals and business entities.

Services
retail banking
business banking
institutional banking
Products
current accounts
debit cards
credit cards
savings accounts
time deposit accounts
green savings
pension savings
consumer loans
vehicle loans
mortgage loans
student loans

Arion Bank is the 3rd largest bank in Iceland in terms of total assets. In 2019 its total assets were 1 081,86 bln ISK, providing the bank with the market share of 28.18%. Arion Bank is the 3rd largest commercial bank in Iceland (out of 4 commercial banks) having market share of 28.37% amongst the banks of this category. In 2019 the bank's annual profit was 1 100,00 mln ISK.

Arion Bank participates in the deposit guarantee scheme of Iceland. This scheme covers accounts up to 1,700,000 ISK per bank per depositor.

See Also