Arion Bank is a model company in good governance

Arion Bank and its subsidiaries Stefnir and Valitor were among 17 companies to be recognized on Friday for good corporate governance and named "model companies in good governance”. Gunnar Sturluson, board member of Arion Bank, received the accolade on behalf of the Bank. Arion Bank was first recognized for excellence in corporate governance in 2016 and has received this accolade every year since.

Companies recognized for good corporate governance undergo a formal assessment of the governance of board of directors and management. Compliance with guidelines on corporate governance, general rule and laws applicable to the activities of boards of directors is also examined. Arion Bank was formally assessed most recently in February 2019 and this assessment is valid for three years. Stjórnvísi, the Icelandic Chamber of Commerce, SA Confederation of Icelandic Enterprise and Nasdaq Iceland are responsible for the conferring this award.