Monica Caneman has decided to step down from the board of directors of Arion Bank. Monica has been chairman of the board since 2010. Gudrún Johnsen, who has been vice-chairman of the board during the same period, takes over the responsibilities of chairman of the board of directors.
“I have served as chairman of the board of Arion Bank since 2010. It has been a pleasure to participate in the positive development of Arion Bank over the last seven years and witness the changes that have taken place at the Bank. It has been an eventful time and Arion Bank, just as the Icelandic economy, has become stronger in all respects. Today Arion Bank enjoys a solid position in the markets it operates in and is financially robust. The Bank’s greatest asset are its excellent employees, who have done a remarkable job in building up this good bank.
Recent changes in ownership represent a watershed for the Bank. Further changes in the ownership will follow in the near future as the Bank ventures into this new era. I feel that now is the right time to step aside and leave the role of chairman of the board of directors.
I want to thank the members of the board of Arion Bank, the management team and the Bank’s employees for their dedication and outstanding cooperation during the last seven years and I wish Arion Bank a bright future.”
Arion Bank reported net earnings of ISK 10.4 billion for the first nine months of 2017, compared with ISK 17.3 billion for the same period of 2016. Return on equity was 6.3%, compared with 11.2% for...
Standard & Poor’s has upgraded Arion Bank’s long term credit rating from BBB to BBB+ with a stable outlook. The Bank’s short term credit rating remains A-2.
Lýdur Thór Thorgeirsson has been appointed managing director of Investment Banking at Arion Bank and will take up his position on 25 October. The managing director of Investment Banking reports...