24. April 2020 - News and Notifications
S&P Global Ratings has today announced a lowering of Landsbankinn’s long-term credit rating. The credit rating is lowered by one notch, to BBB/A-2 with stable outlook.
The downgrade is triggered by S&P’s assessment of industry risk with regard to a reduction in economic activity due to the Covid-19 pandemic. This results in that the anchor, used as a starting point in the credit rating of banks operating in Iceland, is revised down by one notch. The stable outlook of Landsbankinn’s credit rating is based on S&P’s expectation that the Bank will withstand the consequences of the economic recession by maintaining solid capital positions and comfortable funding and liquidity profiles.
In the announcement, S&P acknowledges that Landsbankinn has a higher market share and slightly better efficiency than its domestic peers. It is further noted that the Bank has a relatively advanced digitalized banking platform and is well ahead of many other European banks in its preparation for technological disruption.
Further information about credit rating
Landsbankinn hf. Austurstræti 11, 155 Reykjavík, Reg. No. 471008-0280
Swift/BIC: NBIIISRE Rules Legal notice Personal Data Protection Policy
Please use this form to send us queries, comments, compliments or complaints.
Please complete the form to make an appointment.
Use this form to request an interview with our advisors.
Appointments can be made for both branch visits and phone consultations.