Proposed merger of Landsbanki Íslands hf. and Búnaðarbanki Íslands hf.

At its meeting on 15 December, the Competition Council dealt with a request from the boards of Landsbankinn and Búnaðarbanki for an opinion on whether the proposed merger of the banks would contravene the provisions of Article 18 of the Competition Act. The Competition Council's conclusion is that the merger will lead to the merged bank being in a dominant market position, either on its own or jointly with Íslandsbanki-FBA, which will harm competition and be detrimental to consumers.

Press release in PDF format (PDF document – Opens in a new window).