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Decisions

Acquisition by The Housing Financing Found of a mortgage loan portfolio from Arion banki hf

  • Get document
  • Case number: 28/2019
  • Date: 28/8/2019
  • Company:
    • Arion banki hf.
    • Íbúðalánasjóður
  • Sectors:
    • Financial services
  • Policy Area:
    • Mergers
  • Summary

    The Icelandic Competition Authority has considered the acquisition by The Housing Financing Found of a mortgage loan portfolio from Arion banki hf. The Housing Finance Found is an independent state-owned institute that until 2013 provided loans that were financed by bond issue. Arion banki hf. is a listed company on the stock market. The banks main operation is general banking services to businesses and individuals. The parties will enter in to a servicing contract, which entails that Arion banki will continue administration and services of the loans.

    After investigating the merger, the Icelandic Competition Authority deems that the merger will not lead to disruption of competition in the relevant market. Therefore, there is no reason to intervene in this merger on the basis of Article 17. c. of the Icelandic Competition Act no. 44/2005.