Bank Branches Merged in Iceland Skip to content

Bank Branches Merged in Iceland

The branches of the savings bank SpKef and Landsbanki will be merged in four locations in Iceland, in Reykjanesbaer and Grindavík in the southwest, Ólafsvík in the west and in Ísafjördur in the West Fjords.


The headquarters of Landsbanki in Reykjavík. Photo by Páll Stefánsson.

The operations of SpKef and Landsbanki were merged at 8:30 am this morning. As of that time, all SpKef employees became the employees of Landsbanki and Landsbanki took over all of SpKef’s assets and debts, reports.

Kristján Kristjánsson, Landsbanki’s information officer, wouldn’t reveal whether these measures will result in direct layoffs, although he admitted that some employment changes were imminent.

SpKef has 150 employees. The savings bank operates 16 branches in the Sudurnes region in southwest Iceland, in the West Fjords, on Snaefellsnes peninsula in west Iceland and in Hvammstangi in the northwest.

Click here to read more about SpKef.

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