Hafsteinn Hauksson, chief economist at Kvika banki, states that disagreement among analysts is healthy when market outcomes are uncertain.

Kvika Banki CEO Ármann Þorvaldsson expressed disappointment after the planned merger with Arion Banki was called off, a decision announced after market close on Wednesday.

Ármann Þorvaldsson, CEO of Kvika banki, has requested to step down from his position at the end of the year, concluding nearly a decade of service at the bank. The company's board plans to use the time until the new year to find a successor.

Iceland's three commercial banks — Arion banki, Íslandsbanki, and Landsbankinn — along with Kvika banki, collectively reported a total profit of 27.8 billion ISK for the first quarter of 2026, marking a 32% increase.