Retail banking. In retail banking all business was located in Iceland except for the specialised lending of the subsidiary Heritable Bank through structured property finance for small and medium-sized property developers in the residential and commercial markets. Traditional retail banking services provided through branches were limited to Iceland, though retail services were also offered in the form of online (Icesave) savings accounts in the UK and the Netherlands. Part of the products on offer by Landsbanki were leasing services both to individuals and businesses through SP Fjármögnun. In addition, Vörður Insurance and Vörður Life Insurance were partly owned by the bank. The aim of these holdings was to strengthen the bank’s capacity to provide integrated banking and insurance services and thereby offer a full range of financial services to clients.
