From Iceland — Landsbanki Profit Billions

Landsbanki Profit Billions

Published March 20, 2014

Landsbanki, one of lceland’s largest commercial banks made 29 billion ISK in profits last year and 70%, (20 billion ISK) of that will be paid as dividends to the bank’s shareholders, reports RÚV.

The Icelandic state owns roughly 97% of the bank and will get almost all of the dividends besides what is due to the employees of the bank who received shares as a gift last summer.

The profits are twice as high as last year. Employees who own shares in the bank will get 160 million ISK between them.

Last year was the first time Landsbanki paid dividends since the 2008 banking crash.

Support The Reykjavík Grapevine!
Buy subscriptions, t-shirts and more from our shop right here!

Show Me More!