Landsbanki Q1 2008 Results Presentation in London on 7 May at 9am UK time

Landsbanki Q1 2008 Results Presentation in London on 7 May

Landsbanki will present in English its first quarter financial
results at 9am on Wednesday, 7 May 2008.
 
Mr Sigurjón Þ. Árnason and Mr Halldór J. Kristjánsson, joint CEOs of
Landsbanki, will present Landsbanki's Q1 2008 results to analysts and
investors, followed by a Q&A session. Conducted in English, the
presentation will be available live on www.landsbanki.com, where
relevant data and presentation material will be posted
simultaneously.  Please find attached the London presentation and the
Q1 2008 Consolidated Financial Statments in Excel.
 
Time: 9 am UK (8am GMT and 10 pm CET)
Venue:  Beaufort House 15 St Botolph Street, London EC3A 7QR
Registration: Due to strict and time-consuming security controls
please  make sure to complete your registration on
http://www.landsbanki.is/english/registration/q12008results
 
Live webcast and Conference call
For those who wish to join the meeting remotely, a webcast of the
presentation can be accessed on www.landsbanki.com/ir. A dial-in will
also be available - if you wish to participate please call +44 (0)
1452 569 103 at least 10 minutes prior to the start.
 
Replay and presentation material
All presentation material, plus a replay of the webcast and a podcast
of the telephone conference, will subsequently be available and
archived on www.landsbanki.com/ir under reports and financials.
 
 
Highlights of the Interim Financial Statements of Landsbanki Íslands
hf. for Q1 of 2008
 
 
 
*          Net pre-tax profit in Q1 2008 was ISK 19.7bn (EUR 193m).
  The bank's after tax profit was ISK 17.4 bn (EUR 171m). 
*          After-tax ROE was 44%.  The bank's equity ratio (CAD
  rules) was 11.0% at the end of March. Tier 1 capital was 8.8%.
*           The group's core income (net interest income plus fees
  and commissions) was ISK 26.2bn (EUR 257m), an increase of 27% over
  Q1 2007.
*          Core income from operations outside of Iceland totalled
  ISK 15.1bn (EUR 148m)in Q1 2008, equivalent to 58% of  the group's
  total core income.
*           Trading gains and investment income amounted to ISK
  14.7bn (EUR 144m) compared to ISK 8.8bn in Q1 2007.
*          The bank's total assets amounted to ISK 3,836bn (EUR
  32.1bn) at the end of March 2008 compared with ISK 3,058bn (EUR
  33.4bn) at the beginning of 2008.  In EUR terms, total assets
  decreased by 4% during the period. 
*          The bank's liquidity is strong, totalling EUR 8.2 billion
  as of 31 March 2008.
 
 
 
 
CEO Sigurjón Þ. Árnason:
 "Landsbanki has put in  a very credible performance  in Q1 2008,  not
least considering the difficult situation on international  financial
markets.  The Group's core  earnings have increased  by 27% over  the
first quarter last  year, and its  ROE for the  quarter was close  to
44%. The bank  is currently benefitting  from measures undertaken  in
2006  and  2007  to   restructure  its  capital  base.   Furthermore,
Landsbanki's loan  portfolio is  high  quality and  the bank  has  no
structured credit exposures such as  CDOs, SIVs, etc. The bank's  CAD
equity ratio has remained strong and is currently 11%. These  factors
reinforce Landsbanki's  position  under the  circumstances  currently
prevailing on international markets."
 
 
CEO Halldór J. Kristjánsson:
 "With its strong  financial position and  light repayment profile  of
long term  debt  maturing in  2008,   Landsbanki is  well  placed  to
navigate the uncharted waters of world financial markets at  present.
During this period, Landsbanki will moderate balance sheet activities
and seek greater cost efficiency and potential synergies through  the
continued consolidation and integration of its operational  platform.
Further diversification of the bank's funding profile continues to be
a priority. Icesave, the  UK online savings  account, is a  continued
success with new products  and record account  openings in Q1  2008. 
More than 40% of  Icesave deposits are now  term deposits or in  cash
ISAs accounts. Introduction  of new deposit  initiatives in  selected
European markets in the next  months will provide added anchoring  to
the already  strong  deposit  to  loans  rato  of  66%.  Furthermore,
Landsbanki has to date concluded a series of bond private  placements
equivalent of  EUR  1.4  billion,  at prices  below  the  5-year  CDS
market."
 
A copy of Landsbanki's interim financial statements for Q1 2008 is
available on the Bank's website www.landsbanki.com/ir
 
 
For further information:
Landsbanki   -   Tinna   Molphy,   Head   of   Investor    Relations,
ir@landsbanki.is and tel: +354 410 7200 / mob: +354 861 1440.
Media Relations - Andrew Walton, Financial Dynamics, tel: +44 20 7269
7204 / mob: +44 7711 264 157.