Íslandsbanki hf.: Fitch affirms BBB rating with stable outlook

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| Source: Islandsbanki hf.
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Today, Fitch Ratings has affirmed Íslandsbanki's ratings of BBB/F3 with a stable outlook.

According to Fitch, the ratings for Íslandsbanki reflect the Bank's leading domestic position with a market share of around 30 per cent and the Bank's satisfactory asset quality, stable liquidity position and high reported capital ratios.

Furthermore, Fitch notes that Íslandsbanki's strategy to target continued organic growth in Iceland, combined with its sound risk management framework, will continue to strengthen the Bank's asset quality, with the Bank having seen a sharp decline in its non-performing loans since 2010.

For further information:

Investor Relations - Gunnar S. Magnusson, ir@islandsbanki.is and tel: +354 440 4665.