ABOUT THE COMPANY
With roots tracing back to 1875, Íslandsbanki is an Icelandic bank deeply engrained in the economy of Iceland. In its formative years, Íslandsbanki became Iceland’s first public limited company and played an integral role in developing Iceland’s fishing industry. After merging with the Union Bank, Industrial Bank, Fisheries Bank of Iceland, and the Commerce Bank in 1990, Íslandsbanki was officially established, becoming the largest private sector bank in Iceland [1]. Later, in 2000, the merger of Íslandsbanki and the Icelandic Investment Bank allowed for Íslandsbanki to embark on a path towards international growth and rapid expansion. As Íslandsbanki first expanded into Norway with the acquisition of Kreditbanken in 2004, Íslandsbanki soon opened offices abroad to cope with this exponential international expansion. In 2006, the Íslandsbanki changed its name to Glitnir. While Glitnir grew at an exponential rate, it collapsed by late-2008 in the wake of the Icelandic financial crisis. In the February of 2009, Glitnir officially changed its name back to the original Íslandsbanki. After several years of full state ownership the bank is now jointly owned by the State of Iceland and private investors after a successful 2021 IPO. The state plans to sell its remaining 40% in 2025.
Currently, Íslandsbanki is a financial institution that offers an array of financial and banking services to its customers in Iceland. With 775 employees, Íslandsbanki operates twelve branches throughout the country. As one of Iceland’s leading banks, Íslandsbanki has developed a strong reputation in its service of individuals, corporations, and professional investors.
Looking to the future, Íslandsbanki has introduced a variety of digital solutions to stay ahead of market changes. Despite challenges in 2023, including high inflation, high interest rates, changing leadership, and a global pandemic, Íslandsbanki remains one of Iceland’s leading companies [2].
