23rd Dec 2025 17:45
Arion banki hf. ("Arion") and Kvika banki hf. ("Kvika") today signed an addendum to the parties' letter of intent executed in July 2025.
Arion submitted today a request to the Financial Supervisory Authority of the Central Bank of Iceland for authorization to buy back up to ISK 5.0 billion of its own shares in Iceland and Sweden, and to reduce its share capital. The execution of share buybacks is subject to approval by the Financial Supervisory Authority.
Additionally, Arion and Kvika have signed an addendum to the letter of intent executed in July 2025, stipulating that Arion's planned share buyback and Kvika's planned buyback of own shares, up to ISK 1,756,756,000, will not affect the exchange ratios agreed upon in connection with the proposed merger.
The arrangement follows the implementation of the EU's CRR III Regulation, which entails significant changes to capital requirements for financial institutions.
Preliminary discussions between Kvika and Arion with the Competition Authority are progressing well and will be continued in the new year. Further information on the progress of the discussions will be provided when appropriate and in accordance with statutory disclosure requirements.
For further information please contact:
Theodór Friðbertsson, Investor Relations at Arion Bank, [email protected], tel. +354 856 6760 or Haraldur Guðni Eiðsson, Head of Corporate Communications, [email protected], tel. +354 856 7108.
Attachments
Arion Bank: Proposed share buybacks