S&P upgrades Íslandsbanki to BBB+/A-2 with stable outlook

25.10.2017 - IR Releases

International credit rating agency S&P Global Ratings (S&P) upgraded Íslandsbanki’s credit ratings from BBB/A-2 to BBB+/A-2 today, with a stable outlook.

The upgrade is based largely on an improving operating environment for the Icelandic banking system following the liberalisation of capital controls and declining private sector debt. Because of this, S&P is of the view that the Icelandic banking system has strengthened and Íslandsbanki’s long-term risk-adjusted capital position has improved.

The stable outlook on the Bank’s ratings reflect S&P’s expectation that the Icelandic economy will remain resilient and that the Bank will maintain a strong capital position in coming years, even while it continues to optimise its capital structure.

Jón Guðni Ómarsson, Chief Financial Officer:

It is gratifying to see the Bank's credit ratings improve and to see growing confidence in the Icelandic economy and the financial system. The rating upgrade is in line with favourable developments of the Bank's secondary spreads and increased interest from foreign investors in the Bank's bonds in the past few months, which is of benefit to the Bank's customers. The upgrade is also a clear reflection of the successful revitalisation of the Bank and the Icelandic economy over the past few years.

Older news

Íslandsbanki issues EUR 300m bond and announces partial buyback of its 2020 EUR 500m bond

04.04.2019 - IR Releases
Íslandsbanki has today issued a EUR 300m 1.125% fixed rate senior unsecured bond for 3 years, at a spread of 130 basis points over mid-swaps.More

Annual General Meeting 2019 - agenda, candidates and proposals

19.03.2019
The Annual General Meeting of Íslandsbanki hf. will be held on March 21, 2019 at the Bank's headquarters, Hagasmári 3, 201 Kópavogur at 15:00.More

Publication of 2018 Annual Report and Pillar 3 Report

13.02.2019 - IR Releases
Íslandsbanki has published an Annual Report and Pillar 3 Report for 2018. More

Annual Results 2018

13.02.2019 - IR Releases
The Bank and Íslandssjóðir turned in a good operating performance during the year, with a consolidated profit of ISK 10.6bn, while operational...More

Publication of 2018 year-end results

30.01.2019 - IR Releases
Close of business Wednesday, 13 February 2019More

Íslandsbanki to terminate credit rating contract with Fitch Ratings

30.01.2019 - IR Releases
Íslandsbanki informs that following expiration and by agreement of parties, the credit rating service contract between Fitch Ratings and Íslandsbanki...More

Ásmundur Tryggvason to direct Corporate and Investment Banking

23.01.2019
Ásmundur Tryggvason has been engaged as director of Corporate and Investment Banking at Íslandsbanki. He replaces Vilhelm Már Þorsteinsson, who will...More
Netspjall