Responsible banking

Arion Bank is a strongly capitalized bank which provides universal banking services to companies and individuals with the aim of creating future value for the benefit of our customers, shareholders, partners and society as a whole. Arion Bank’s sustainability policy bears the title Together we make good things happen and indicates that the Bank wants to act as a role model by promoting responsible and profitable business practices, which take into account the environment, the economy and the society in which we live and work.


We refer to Arion Bank’s values as cornerstones and they are designed to provide guidance when making decisions and in everything the employees say and do. The cornerstones address the our role, mentality and conduct and they are: we make a difference, we get things done, and we say what we mean. The Bank’s code of conduct has been approved by the Board of Directors and is designed to support responsible decision making.

Sustainability policy

We want to act as a role model by promoting responsible and profitable business practices, which take into account the environment, the economy and the society in which we live and work. We try to see things from our customers’ viewpoint and strive to do better today than we did yesterday.

We work in an attractive workplace where knowledge creates future value for the benefit of our customers, investors and society as a whole.

The diagram below shows the main stakeholders at the Bank and our main areas of focus with respect to sustainability.

The journey

Ever since it was founded, Arion Bank has endeavoured to provide responsible banking services. In 2016 the sustainability policy was updated and introduced to the Bank’s employees. Since then a number of projects have been launched concerning social and environmental issues.

Further on The journey


We want to be the leading digital bank in Iceland and to offer our customers comprehensive financial advice.



We work with and for entrepreneurs and seed companies and support a creative economy.


work place

We endeavour to look after all our people and strive hard to create a stimulating and positive work environment.


Respect for the environment

We respect the environment and this is reflected in our operations.


Responsible and profitable business 

At Arion Bank we want to set an example as a company which employs sound and responsible business practices.


Supporting the community

We collaborate with numerous organizations and companies in the community.


Sustainability reporting

At Arion Bank we aim to ensure that sustainability is part of the Bank's day-to-day activities, its decision-making and processes. Instead of preparing a separate sustainability report, reporting on non-financial factors and the impact of operations is integrated into the Annual Report.

This year the first steps have been taken towards reporting in accordance with the Global Reporting Initiative standard, GRI Core, which helps companies and institutions report information on sustainability in a transparent manner. We also take into account the United Nations Sustainable Development Goals, 10 Principles of the UN Global Compact and the criteria specified by Nasdaq in the Nordic and Baltic region concerning the reporting of non-financial information and key performance indicators.

Non-financial information
GRI index

Commitments and certifications

  • Signatory to UN Women and UN Global Compact since 2014

  • Signatory to Festa and City of Reykjavík’s Declaration on Climate Change since 2015

  • Awarded equal pay certification by the labour union VR in 2015, and awarded Ministry of Welfare’s equal pay symbol in 2018, on both occasions first Icelandic bank to be recognized in this way

  • Signatory to UN Global Compact, the UN's initiative to encourage businesses to adopt sustainable and socially responsible practices, since 2016

  • Recognized as a company which has achieved excellence in corporate governance by the Center for Corporate Governance, since 2015

  • Signatory to the United Nations' Principles for Responsible Investment, UN PRI, since 2017



Our stakeholders

Our main stakeholders are the customers of Arion Bank, shareholders, employees and society as a whole. At Arion Bank we realize the importance of engaging with and listening to the different needs of these groups and understanding their expectations.

Further on our stakeholders


The Bank's strategy is to create future value for the benefit of its customers, shareholders, partners and society as a whole, and in keeping with this the Bank seeks to source its supplies from local companies as far as possible, provided they meet the requirements on quality and price.

Further on Suppliers