Euromoney names Íslandsbanki Iceland’s best bank


International financial magazine Euromoney has named Íslandsbanki Iceland’s best bank for 2018. This is the fifth time that the Bank has received this recognition. 

Factors considered during the selection process included the Bank’s investment in core elements, such as the implementation of a new organisational structure, the move to its new headquarters, and the ongoing upgrade of its core systems, the largest IT project the Bank has ever undertaken. Significant advancements have taken place in digital solutions as well; Íslandsbanki recently announced that it was the first bank in Iceland to open up the possibility for cooperation with fintech companies.

The Bank’s balance sheet is strong and its operations stable. It has engaged in milestone foreign bond issues and has been a leader in covered bond issuance in Iceland. At the same time, Íslandsbanki’s customers have been the most satisfied with the service they receive, according to the Icelandic Customer Satisfaction Index, and the level of employee satisfaction is high.
Each year, Euromoney selects the best banks in nearly 100 countries for its Awards for Excellence.

Birna Einarsdóttir, Chief Executive Officer:

“We are extremely proud of being recognised by Euromoney for the fifth time. The Bank’s operations are successful, and we have invested heavily in strengthening our core while retaining a large market share in a demanding competitive environment, which is a strong indication of the outstanding work our employees are doing. We have taken large, important steps towards digitising our banking services, and we see numerous opportunities ahead. But primarily, we are grateful for the good relationship we have with our customers, and we are always seeking out ways to improve the service we offer.”

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