KB Banki, formerly Kaupþing Búnaðarbanki (Kaupthing Agricultural Bank), is one of three major commercial banks in Iceland and the largest bank overall in the country. It was formed by the merger of Kaupþing Bank and Búnaðarbanki Íslands in 2003. Founded in 1930 Búnaðarbanki Íslands was publicly owned from its inception and was privatized by the government in stages between 1998 and 2003. Kaupþing Bank was founded in 1982. Four years later, it was one of the founding members of the Kauphöll Íslands, the Iceland Stock Market. Half of the bank was sold to the Icelandic savings banks in 1986. The other half was sold to Búnaðarbanki Íslands in 1990, which sold its shares to the savings banks in 1996. The savings banks began selling its shares to the public on the stock market in 2000.
Kaupþing Búnaðarbanki currently operates in ten countries, employing 1,250 people. It maintains 36 branches across Iceland.
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