S&P Global Ratings (S&P) has today announced that the agency assesses the Icelandic resolution framework as sufficiently effective. This follows the Icelandic Central Bank’s publication of a policy on minimum required own funds and eligible liabilities (MREL) in December 2021 and determination of MREL requirements for Iceland‘s systematically important banks, announced on April 26th.
While the Icelandic banks have until January 2024 to meet the MREL requirements, Íslandsbanki’s existing capital and liability stacks meet those requirements today.
S&P’s long-term issuer credit rating on Íslandsbanki remains unchanged at BBB/A-2, and the outlook remains stable.
Moreover, S&P is assigning a resolution counterparty rating (RCR) of 'BBB+/A-2' to Íslandsbanki.
For further information please contact:
Investor Relations, ir@islandsbanki.is
Íslandsbanki IR releases
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About Íslandsbanki
With a history that dates from 1875, Íslandsbanki is an Icelandic universal bank with a strong customer focus. The Bank believes in moving Iceland forward by empowering its customers to succeed - reflecting a commitment to run a solid business that is a force for good in society. Driven by the ambition to be #1 for service, Íslandsbanki’s banking model is led by three business divisions that build and manage relationships with its customers. Íslandsbanki maintains a strong market share with the most efficient branch network in the country, supporting at the same time its customers’ move to more digital services. The Bank operates in a highly attractive market and, with its technically strong foundations and robust balance sheet, is well positioned for the opportunities that lie ahead. Íslandsbanki has a BBB/A-2 rating from S&P Global Ratings. The Bank’s shares are listed on Nasdaq Iceland Main Market.
