In the wake of the restructuring of the Icelandic banking system, Icelandic State Financial Investments (ISFI) has, in accordance with Act no. 88/2009, been entrusted with the task of managing the state’s holdings in financial undertakings.
With a letter from the Minister of Finance, dated 4 January 2010, ISFI was entrusted with the task of managing the state’s holdings in Arion Bank (13%), Íslandsbanki (5%) and Landsbankinn (NBI hf) (81,3%). On 11 April 2013 the state gained larger holdings in Landsbankinn, a total of 97,9% in accordance to an agreement between the bank and Landsskil hf. dated 15 December 2009.At present the government holding in financial undertakings is 100,0% of shares in Islandsbanki hf., 98,2% in Landsbankinn hf., 13,0% in Arion banki hf. and 49,5% in Sparisjóður Austurlands hf.