Arion Bank

Arion Banki hf.

Company type	Hlutafélag
Traded as	Nasdaq Iceland: ARION
ISIN	US9497461015
Industry	Banking
Predecessors	Kaupthing Bank Agricultural Bank of Iceland
Founded	July 1, 1930 (94 years ago) (1930-07-01) in Reykjavík, Iceland (as Búnaðarbanki Íslands) April 2003 (as KB Banki) October 18, 2008 (as Arion Banki)
Headquarters	Reykjavík, Iceland
Number of locations	13 branches (2023) 40 ATMs (2023)
Area served	Iceland
Key people	Benedikt Gíslason (CEO) Brynjólfur Bjarnason (Chairman)
Products	Consumer banking, corporate banking, mortgage loans, private banking, private equity, wealth management, credit cards
Revenue	ISK 50.764 billion (2020)[1]
Operating income	ISK 26.323 billion (2020)[1]
Net income	ISK 12.469 billion (2020)[1]
Total assets	ISK 1.172 trillion (2020)[1]
Total equity	ISK 197.845 billion (2020)[1]
Number of employees	776 (End of 2020)[1]
Subsidiaries	Vörður Insurance Stefnir Asset Management
Website	www.arionbanki.is

Arion Banki hf., formerly Nýja Kaupþing hf. (lit. 'New Kaupthing'), is an Icelandic bank with roots tracing back to 1930. The bank operates in the Greater Reykjavík area as well as in the largest urban areas around the country. In 2016 the bank had the third largest market share of the current accounts in Iceland (30%), behind Landsbankinn (36.1%) and Íslandsbanki (31%).^[2] The Bank has 13 branches all over the country and over 100,000 customers. In recent years, the bank has faced criticism for shutting down several of its branches in smaller towns throughout Iceland.^[3]