This release is an update of Arion Bank’s press release published on the stock exchange and the Bank’s website on 27 March, providing updates of the steps taken by the Bank to support its customers, to ensure business continuity and the key measures announced by the Icelandic authorities.
Key government measures since 27 March 2020 and the status of loan repayment options available to customers
| 31 March 2020 | 30 June 2020 | 31 July 2020 | |
| Corporates | 0.03% | 14.2% | 13.6% |
| Individuals | 7.6% | 7.9% | 5.8% |
| Total loanbook | 3.5% | 11.2% | 9.8% |
Key measures to ensure business continuity at Arion Bank
- Arion Bank is working in accordance with a contingency plan according to which the welfare of our customers and employees is central. The Bank’s security committee meets on a regular basis.
- The Bank’s branches closed on 25 March and reopened on 12 May. The Bank’s digital solutions have been used very effectively over the last few months and the business has continued to operate as normal despite the fact that up to 85% of employees were working from home at one point.
- In order to avoid infection and to reduce the spread of COVID-19 the Bank complies with the instructions of the health authorities. The 2-metre rule is in force which means that many employees are currently working from home.
For any further information please contact Theodór Friðbertsson, Head of Investor Relations at Arion Bank, ir@arionbanki.is, tel. +354 856 6760 or Haraldur Guðni Eiðsson, Head of Corporate Communications, haraldur.eidsson@arionbanki.is, tel. +354 856 7108.