Bankinn

Bankinn is the Icelandic term for “the bank” and is used in everyday language to refer to banks in Iceland. It also appears as part of the brand names of several Icelandic lenders, including Landsbankinn, Íslandsbanki, and Arion Banki. In practice, a Bankinn offers services to individuals and businesses, including deposit accounts, consumer and mortgage lending, payment services and card processing, and digital banking. Larger institutions also provide corporate banking, investment services, and wealth management, while smaller banks focus on local markets.

Historically, banking in Iceland emerged in the late 19th and early 20th centuries, followed by consolidation and modernization in the late 20th century. The 2008 financial crisis triggered a major restructuring of the sector, with the largest banks undergoing state intervention and reorganization. Since then, the industry has prioritized strengthened capital adequacy, improved risk management, and enhanced consumer protections under new regulation.

Regulation and supervision: Icelandic banks operate under the Financial Supervisory Authority (Fjármálaeftirlitið) and are overseen in coordination with the Central Bank of Iceland (Seðlabanki Íslands). The framework emphasizes capital requirements, liquidity, and consumer protection.

International operations and digital channels: Many Bankinn‑brand banks offer online and mobile banking platforms and may maintain international correspondent banking relationships to support trade and payments.

Related topics include Landsbankinn, Íslandsbanki, Arion Banki, and the 2008 Icelandic banking crisis.