Financials

A focused overview of the financial companies included in the ETF’s index, highlighting banks, insurance firms, and other financial services businesses that represent Iceland’s financial system and its role in the broader economy.

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Arion Bank

Arion Bank is one of Iceland’s largest financial institutions, offering a full range of universal banking services to individuals, businesses, and institutional clients. Listed on Nasdaq Iceland, the bank plays a significant role in the domestic financial system, serving roughly 30% of the Icelandic market. Its operations span retail banking, corporate banking, investment services, and capital markets activities. Arion Bank emphasizes digital innovation and operational efficiency across its platform. The bank remains a central pillar of Iceland’s modern banking sector.

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Íslandsbanki

Íslandsbanki is a leading Icelandic bank with deep historical roots dating back to 1875. With operations in Iceland and Hungary, the bank provides comprehensive financial services to individuals, companies, and public institutions. Its activities include retail banking, corporate banking, capital markets, and asset management. Íslandsbanki employs approximately 775 people and plays an important role in supporting economic development in Iceland. The bank combines long-standing tradition with a focus on sustainability and responsible banking practices.

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Kvika

Kvika is a diversified financial conglomerate operating across multiple segments of the financial services industry. Its core business areas include commercial banking, investment banking, asset management, insurance, and international operations in the United Kingdom. Kvika serves a broad client base ranging from individuals to institutional investors and corporations. The firm has expanded through strategic acquisitions and organic growth, strengthening its position in Iceland’s financial market. Kvika’s multi-platform structure provides exposure to several key areas of the financial services value chain.

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Sjóvá-Almennar Tryggingar

Sjóvá-Almennar Tryggingar is one of Iceland’s established insurance providers, founded in 1918. The company offers a broad portfolio of insurance products, including motor, life, health, and property insurance. Serving both individuals and businesses, Sjóvá plays an important role in Iceland’s non-life insurance market. The company employs approximately 183 people and operates nationwide. Sjóvá emphasizes customer service, risk management, and long-term stability in its operations.

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Skagi

Skagi is a financial services group built around three independent subsidiaries: VIS Insurance, Fossar Investment Bank, and Íslensk Verðbréf. Together, these companies provide services across insurance, investment banking, and securities brokerage. The group offers solutions to individuals, companies, and institutional investors within Iceland’s capital markets. Skagi operates under a unified brand while maintaining specialized expertise within each subsidiary. This structure allows the group to participate across multiple segments of Iceland’s financial sector.

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