In 2016 the bank had the third largest market share of the current accounts in Iceland (30%), behind Landsbankinn (36.1%) and Íslandsbanki (31%).

In recent years, the bank has faced criticism for shutting down several of its branches in smaller towns throughout Iceland.

[4] On behalf of its creditors Kaupthing, through its subsidiary Kaupskil, took ownership of Arion Bank on 8 January 2010.

Kaupskil holds 87% of common equity and the Icelandic State Financial Investments (ISFI) 13%.

Following a change in ownership in 2010 a new board of directors as well as a new CEO, Höskuldur H. Ólafsson, and management team were appointed.