Support and grants

Landsbankinn's support for the community is an important part of the bank's CSR policy. Landsbankinn provides direct financial support for a large number of community projects, both from its Community Fund and through co-operation agreements.

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Total support for community actions

110million ISK

The bank's direct financial support for major community projects in 2015 amounted to ISK 110 million. In addition to this the bank's branches support a variety of projects in their local communities, including sports and youth activities, humanitarian work and non-governmental organisations, amounting to tens of millions each year. Furthermore, major emphasis is placed on providing services and advice clearly benefiting the community. Finally, the bank aims at being an active participant in community projects with advice and volunteer assistance from employees.

The bank supports community projects, including those in arts and culture, primarily in three ways. Firstly, through its Community Fund, where grants are provided without obligations for recipients. Secondly, through co-operation agreements under which both parties benefit, and finally through bank branches, which provide strong support for local community projects. Three different types of grants are made from the Community Fund – scholarships, community grants and environmental grants.

Total community support (excl. branches) (ISKm)

Community Fund

Landsbankinn's Community Fund plays a key role in the bank's programme of community support. In 2015 three types of grants were made: Landsbankinn awarded scholarships of ISK 6 million, community grants totalling ISK 20 million and finally ISK 5 million in environmental grants. Total grants made from the Community Fund were therefore ISK 31 million.

In recent years the bank's community support has become a fixture of its operations. Emphasis is placed on providing support for diverse activities and on benefiting as many as possible. The bank has made it a rule that award committees must be comprised of a majority of recognised professionals in their field. Finally, the application channel is clear and accessible, to enable the bank's customers and other Icelanders to apply on an equal basis for support.

Volunteer work and advice

Landsbanki aims at increasing employees' direct participation in community projects, both with advice and through volunteer work during working hours. Last year the bank's employees volunteered, for instance, to assist in Christmas hamper distribution by the Mæðrastyrksnefnd and the yearly charity canvassing by the organisation Á allra vörum. Landsbankinn has furthermore offered advice from its employee experts in various areas of financial affairs and innovation.

The bank is an active participant in the financial literacy project Fjármálavit organised by the Icelandic Financial Services Association (SFF) in partnership with its member companies. The objective is to instruct grade 10 students in all Icelandic schools in the basic aspects of financial affairs and provide inspiration for instruction in finance. Finally, employees have been members of award committees, such as the Golden Egg, an innovation competition by Innovit sponsored by Landsbankinn.

Objectives of grants from the Community Fund

  • Diversified community support made available to a large number of applicants
  • Majority of award committee members are professionals
  • Non-discrimination and diversity ensured as far as possible in awarding grants
  • Landsbankinn emphasises enabling employees to find a suitable work-life balance
  • Clear channel for the bank's grants and support