Arion Bank is Euromoney’s bank of the year

The financial publication Euromoney has named Arion Bank as Iceland’s bank of the year for 2024 and the best digital bank in Iceland.

In explaining its decision, Euromoney cites the leading position Arion Bank has developed in Iceland as a provider of digital services. Euromoney mentions various digital innovations introduced recently, such as real-time market data for equities trading, various pension-related functions, and the launching of a new interface for payment cards. Euromoney also refers to the measures taken by the Bank to accommodate borrowers with non-indexed mortgages who wanted to temporarily reduce their monthly mortgage payments.

Euromoney also points to the enhanced digital services for companies which can now trade in shares and funds in the app or online banking platform and business owners can also easily switch between their personal finances and company’s finances in the app.

Euromoney also highlights the credit rating which Arion Bank received from Moody’s last year for its euro-covered bond issue. The rating is three notches higher than the Icelandic government’s rating.