viðskiptabanka

Viðskiptabanki is the term used in Iceland for a commercial bank. It refers to a financial institution that accepts deposits, provides loans, and offers payment and treasury services to businesses and, in many cases, to individuals. The primary focus is on corporate clients and SME financing, cash management, and facilitating domestic and international trade.

Core services include business accounts, merchant acquiring, payment processing, short- and long-term lending, working capital facilities, foreign exchange, and treasury services. Many viðskiptabankar also offer project finance, asset-based lending, and structured finance. In addition to lending and payments, they provide risk management tools and advisory services related to finance and funding strategies.

Commercial banks operate within Iceland's regulatory framework, supervised by the Financial Supervisory Authority and the Central Bank of Iceland. They adhere to capital adequacy, liquidity, and consumer protection rules, including anti-money laundering and know-your-customer requirements. Depositors are protected by the national deposit guarantee scheme up to a set limit.

In the Icelandic market, major banks function as universal banks, serving both corporate and retail segments, and may operate internationally through correspondent banking and trade-finance networks. The sector has undergone reforms and consolidation in the past decades and continues to adapt to digital banking trends, fintech competition, and evolving regulatory standards. The term emphasizes services aimed at business clients, while consumer banking serves individuals.