From Iceland — Arion Bank Seeks Merger With Íslandsbanki

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The state will continue to work on preparations for the sale of its stake in Íslandsbanki, approximately 42.5% of the bank's shares, in a public and open tender offer. This is stated in a statement from the Ministry of Finance and Economic Affairs. Following the state's announcement on Friday of a planned open public tender offer for the state's stake in Íslandsbanki, Arion Bank published a statement to Íslandsbanki expressing its interest in...

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The governor of the Bank of Italy, Fabio Panetta, has assured that the possible mergers between transalpine entities, if they succeed, would allow the national financial sector to converge in terms of levels of consolidation with its European peers.

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From Iceland — Arion Bank Seeks Merger With Íslandsbanki

The board of Arion Bank has announced its interest in initiating merger talks with Íslandsbanki, reports mbl.is. A formal letter has been sent to the chairman and CEO of Íslandsbanki, expressing the bank’s vision for a combined financial institution. In a statement to the Icelandic Stock Exchange, Arion Bank highlighted the significant benefits of a potential merger for customers, shareholders, and the Icelandic economy. “We see a unique opportu…

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A possible merger between Íslandsbanki and Arion, which would create the largest bank in the country and create significant synergies with increased economies of scale, would be both complex and difficult from a competitive perspective, including when it came to the position of the merged bank in the field of deposit operations, the asset management market and corporate lending. The assessment of the Icelandic Banking Authority in 2020, which th…