Landsbankinn is a dynamic force in society and takes its role seriously. The Bank is a trustworthy financial partner and strives to offer exceptional solutions and services in finance.
Both 2017 and 2018 were rather challenging operating years for Icelandic fisheries and seafood. The most generally cited influencers are a strong ISK exchange rate, high fishing fees and rising wage expenses. Companies have responded with increased investment and continued consolidation
Investments have led to borrowing, leading to a growing stake in fisheries and seafood by Landsbankinn in 2018. This was achieved both through increased lending to current customers as well as through the addition of new customers, which is a pleasant development. Landsbankinn's market share remains strong and its competitive position has improved with lower financing cost and greater operating efficiencies. The outlook in fisheries and seafood is good as the ISK has depreciated, fishing fees decreased and main fishing stocks are strong.
Landsbankinn remains a strong backer of Icelandic agriculture. There have been considerable developments in the past 1-2 years, especially in the dairy sector, where producers have grown fewer and dairy farms grown larger. Landsbankinn has contributed to these developments by supporting its customers to make changes.