News - 18.08.2023

VR stops doing business with Íslandsbanki

VR's Board has decided to cut business ties with Íslandsbanki and seek offers for the union´s business and services from other financial institutions.

In a statement by the Board 29 June, the union said it considers the transgressions made by Íslandsbanki during the sale of the government’s shares to be completely unacceptable. VR called for the bank's management and the staff responsible for violations of the law to take responsibility. Íslandsbanki's response and the answers of its representatives to the union‘s demands are insufficient in the opinion of the Board of VR.

A proposal to cut business ties with Íslandsbanki was approved by the Board at a meeting on 16 August 2023.