Con­clu­sion of the FSA re­garding Lands­bank­inn’s qual­i­fy­ing hold­ing in TM

Landsbankinn signed an agreement for the purchase of all shares in TM in May 2024. This strategic acquisition aims to broaden the Bank’s service base for customers, diversify income streams and increase value for shareholders.

Landsbankinn’s purchase of TM is contingent on approval by the FSA of the Central Bank of Iceland and the Icelandic Competition Authority. The FSA has now granted approval, and the Icelandic Competition Authority has begun its formal process. 

The FSA further concluded that Landsbankinn is eligible to control a qualifying holding in TM líftryggingar hf. and Íslenskar endurtryggingar hf., subsidiaries of TM tryggingar hf.