Iceland's Landsbanki Bank Profits ISK 40 Billion Skip to content

Iceland’s Landsbanki Bank Profits ISK 40 Billion

According to the annual statement from Landsbanki Bank presented yesterday, the bank profited ISK 39.9 billion (USD 610 million, EUR 420 million) last year and returns after taxes were 27 percent. The basic earnings of the complex were ISK 93.4 billion (USD 1.4 billion, EUR 1.0 billion), up by 34 percent from 2006.

The basic earnings figuration of Landsbanki Bank is becoming more diffused and the percentage of foreign basic earning was 52 percent in 2007, compared to 49 percent the previous year, reports.

Landsbanki Bank’s total assets were ISK 3.058 billion (USD 46.8 billion, EUR 31.9 billion) at the end of 2007, compared to ISK 2,173 billion (USD 33.3 billion, EUR 22.7 billion) at the end of 2006. The bank’s liquid asset position is strong; it reached EUR 9 billion (USD 13 billion) at the end of last year.

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