Moody's Investors Service today placed Landsbanki's Aa3 long-term ratings and C
bank financial strength ratings (“BFSRs”) on review for possible downgrade. The
Prime-1 short-term ratings, which is highest rating available from Moody's,
were affirmed.
For further information on the rating action, please refer to the attached
press release from Moody's.
For further information please contact:
Landsbanki's CEOs Sigurjón Th. Árnason, tel. +354 410-4009 / +354 898 0177 and
Halldór J. Kristjánsson, tel. +354 410 4015 / +354 820 6399 or Brynjólfur
Helgason, Alternate CEO and MD International Banking.
Media Relations - Andrew Walton, Financial Dynamics, tel: +44 20 7269 7204 /
mob: +44 7711 264 157.
About Landsbanki
Landsbanki is a growing European bank with total assets of ISK 3,058 billion
(EUR 33.4 bn) at 31 December 2007 and a market capitalisation of ISK 351
billion (EUR 3.7 bn) as of 29 January 2008. Through its extensive distribution
network of 2,499 employees in 17 countries, Landsbanki is set to deliver
targeted financial services based on local expertise for mid-cap corporates in
Europe. Landsbanki provides retail and corporate banking, investment banking,
capital markets services, asset management and wealth management for private
banking clients. Landsbanki's unique product line includes access to both debt
and equity markets and its research department is among the most comprehensive
in Europe, including some 100 analysts covering close to 950 European stocks.
The market leader in the Icelandic financial service sector, Landsbanki's
growth in recent years has been primarily organic, based upon smaller,
strategically acquired platforms in the UK, Ireland and Continental Europe.
Most recently, the bank acquired the securities broker and investment bank
Bridgewell in the UK.
Headquartered in Reykjavik, Iceland, Landsbanki Islands hf. is traded on the
OMX Nordic Exchange Iceland under the ticker LAIS. Landsbanki is rated by
Moody's (Aa3 / P-1 / C / Stable) and Fitch (A / F1 / B/C / Stable).
