Atlantica - 01.09.2004, Blaðsíða 79

A T L A N T I C A 77
THE PEOPLE’S BANK
Landsbanki is the oldest full service commercial bank in Iceland with total assets of ISK 558 billion (EUR
6.3 billion), making it the second largest bank in Iceland, and the fourth largest company listed on Iceland
Stock Exchange. Landsbanki employs about 1,000 people. About 14% of Landsbanki’s total assets and
profits are derived from Landsbanki’s overseas subsidiaries.
FRENCH CONNECTION
Most of the major French banks have been involved in Landsbanki’s funding, both as general investors
and as lead managers of bond issues. Today, about 8% of Landsbanki’s bonds have been placed with
French investors.
THE INTERNATIONAL MARKET
Landsbanki has become increasingly more international in its activities. Landsbanki has two overseas
subsidiaries, Heritable Bank in London and a private banking unit in Luxembourg. Heritable Bank offers
residential development financing and has recently begun to offer residential mortgages and deposit
taking. Landsbanki Luxembourg is a private banking unit, but is also active in specialised lending. In
addition, Landsbanki is active in the international capital markets through its EMTN and ECP pro-
grammes.
Landsbanki’s international strategy going forward will focus on making further overseas acquisition, as
there is limited room for growth in the domestic market, and Icelandic corporates banking with
Landsbanki, are increasingly seeking international opportunities.
Landsbanki is sponsoring the Icelandic Cultural Days in Paris in September 2004.
ATLANTICA BUSINESS SECTION
Halldór J. Kristjánsson, the group managing director and CEO of Landsbanki.
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