The Banker names Arion Bank as 2021 Bank of the Year in Iceland

The Banker magazine, a leading global finance news publication published by the Financial Times, has named Arion Bank as the Bank of the Year in Iceland for 2021.

The Banker pointed to Arion Bank’s performance figures and its commitment to environmental, social and governance (ESG) principles. The Banker also highlighted several other factors in Arion Bank’s strategy and business which the magazine saw as integral to the Bank’s success. The onboarding of the investment banking into the corporate banking division to create a dedicated corporate and investment banking arm consolidated its services to corporate customers. The Bank’s creative approach to product and service development, both in terms of newer and older products, was also a key factor. The introduction of pensions to the Arion app was a further success story. Arion Bank became the first bank in Iceland to enable its customers to apply for supplementary pension savings and to view pension balances and investment returns in an easy-to-access format.

In selecting Arion Bank as 2021 Bank of the Year in Iceland, the Banker also noted that Arion Bank had added a range of green financial services to its product offering. Arion Bank was the first bank in Iceland to introduce green deposits and green car loans are also available. Green deposits are designed for individuals, NGOs and companies wanting to contribute towards a more sustainable future. Green deposits have been utilized to finance projects such as green car loans and pollution-prevention initiatives. The total value of green deposits has now reached approximately ISK 11 billion.