What was originally the Agricultural Bank, Bunadarbanki, which morphed into its more jet-setting version as KB Banki and then Kaupthing, has become Arion Bank. The bank was a major lender to the seafood business.
This follows Glitnir's example, which earlier this year went back to its old name of Islandsbanki, a name that when the Icelandic financial sector was expanding overseas had seemed too provincial for an international market.
An announcement from the erstwhile Kaupthing said the new name is being taken up alongside new strategies and values that reflect the requirements of both staff and customers following the bank's r-organization in the wake of the turbulence that has engulfed Icelandic society and business.
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