Euromoney ranks Íslandsbanki the Best Bank in Iceland

15.07.2013
Euromoney magazine has ranked Íslandsbanki the best bank in Iceland. Annually Euromoney appoints the best banks around the world with the Awards for Excellence.

The magazine considers several factors in its assement of Icelandic banks, including balance sheet growth and return on equity taking into account an impressive recovery. Euromoney states that Íslandsbanki has a strong capital adequacy and deposit to loan ratios. The Bank has also been proactive in seeking funding diversification by issuing covered bonds, and was the first Icelandic bank to do so.

Effective goal setting 
Since the Bank´s establishment in 2008 Íslandsbanki has put a strong emphasis on mapping out a strategic direction for the Bank. Clear and measurable goals are defined yearly for the Bank as a whole and for its individual business areas. The Bank's goals have centered on providing customers with excellent service, having an instrumental role in the reconstruction of the Icelandic financial market and promoting cost efficiency and healthy operation of the Bank. With this in mind Íslandsbanki has passed numerous milestones in building a new bank, including mergers with other financial institutions, improving disclosure and revising the Bank´s regulatory structure and corporate governance practices. Additionally, Íslandsbanki has been the market leader in IPOs on the Icelandic stock exchange.

Birna Einarsdóttir, CEO of Íslandsbanki:
“Since the establishment of the Bank we have focused on effective goal setting with the participation of our employees and customers. We can see the results of that work and it is extremely gratifying that it is being recognised. We are proud of this award and thank our employees and customers for this success.”

The article in Euromoney. 

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