Annual Report 2014
Financial statements
  • Year 2014
    • Key figures
    • Chairman's address
    • CEO's address
    • Highlights of 2014
    • The economic environment
  • People and governance
    • Human resources
    • Senior management
    • Board of Directors
    • Corporate governance
  • Strategy and CSR
    • Strategy and vision
    • Corporate social responsibility
  • Relationship banking
    • Business segments
    • Support units
    • Internal controls
    • Subsidiaries
    • Holding companies
  • Finance and risk
    • Funding and liquidity
    • Risk management
    • Financial results
    • Financial documents
Year 2014
  • Key figures
  • Chairman's address
  • CEO's address
  • Highlights of 2014
  • The economic environment

JanUARY

Standard and Poor’s assigned Arion Bank BB+ ratings

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FebrUARY

Arion Research published its macroeconomic forecast

Construction and long-term financing for the building of Alvogen’s bio-tech plant at Vatnsmýrin in Reykjavík

Arion Bank published its 2013 financial results

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March

Annual General Meeting

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April


HB Grandi share offering. Arion Bank managed the offering and proposed listing on the Icelandic stock market.


Arranged sale of 27% share in HB Grandi - Arion Bank was one of the sellers

May

The Bank signed the CEO Statement of Support for the Women’s Empowerment Principles (UN Women) and the UN Global Compact

A total of 240 teams applied to take part in Arion Bank´s startup accelerator Startup Reykjavík 2014

The Bank’s 3M results for 2014 were published

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June

Frjálsi Pension Fund was named best institutional investor in real estate from among 40 European counties

Arion Bank completed an offering of a new bond series issued by Landfestar hf, LF 14 1. It was a 30-year indexed series, secured by the real estate portfolio of Landfestar ehf.

Arion Bank refinanced the data center company Verne Global Holding in full and financed its further expansion

The Bank opened a state-of-the-art new branch at Borgartún 18 in Reykjavík

July

Arion Bank and the Norwegian shipping company Havila Shipping ASA reached a NOK 300 million loan agreement

august

Arion Bank fully financed United Silicon’s silicon plant in Helguvík. The first energy intensive project fully financed by an Icelandic bank.

Startup Reykjavík Investor Day was held for the third time and ten companies presented their ideas to potential investors

Arion Bank published its H1 2014 financial results

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September

Arion Research published its report on the tourism industry and held a meeting at which the main conclusions of the report were discussed

October

S&P upgrades credit rating outlook to positive

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Arion Bank completed an offering of 6-month commercial papers. Offers totalling ISK 3,680 million were received and offers worth ISK 2,120 million were accepted at flat rates of 6.00%

November

Arion Bank completed an offering of 6-month commercial papers. Offers totalling ISK 480 million were received and all offers were accepted at 5.80% flat rates.

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Frjálsi Pension Fund named best pension fund in Europe in its class

Arion Bank published its 9M 2014 financial results

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December

Arion Research published its report on the real estate sector and held a meeting at which the main conclusions of the report were discussed

Reitir completed ISK 68 billion funding, advised by Arion Bank

Arion Bank completed an offering of two new series of covered bonds, 7-year and 15-year instruments respectively

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Arion Bank completed an offering of 6-month commercial papers. Offers totalling ISK 1,240 million were received and offers of ISK 640 million were accepted at 5.25% flat rates.

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Arion Bank and Icelandic Competition Authority reached a settlement on the payment card system

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Arion Bank acquires additional 38% share in the payment solutions company Valitor and now holds 99%

IS
CEO's address
Fara efst
The economic environment