Sparebanken Nord-Norge
Encyclopedia
Sparebanken Nord-Norge branded as SpareBank 1 Nord-Norge is a Norwegian
savings bank
. The bank
has 90 branch offices in Nordland
, Tromsø
, Finnmark
and Svalbard
and a head office in Tromsø
. It has 250,000 private and 40,000 institutional customers with total assets of NOK
48 billion. The bank is a founding member of the bank alliance
SpareBank 1
, with a 19.5% ownership.
In the 1960s and onwards to the 1980s there were was a tred of merging local savings banks to larger unites. Tromsø Sparebank merged with nine other banks in Troms and Finnmark to form a large Tromsø Sparebank in the period 1963-1984 while another savings bank, Sparebanken Nord, arose consisting of a merger between ten other banks in the same counties. In Nordland the bank Sparebanken Nordland emerged in 1985 after the merge of 14 local savings banks.
In 1988 Norway was struck by a bank crisis and this forced Tromsø Sparebank and Sparebanken Nord to merge to form Sparebanken Nord-Norge. In 1991 Nordkapp Sparebank and in 1992 Sparebanken Nordland also joined.
Norway
Norway , officially the Kingdom of Norway, is a Nordic unitary constitutional monarchy whose territory comprises the western portion of the Scandinavian Peninsula, Jan Mayen, and the Arctic archipelago of Svalbard and Bouvet Island. Norway has a total area of and a population of about 4.9 million...
savings bank
Savings bank
A savings bank is a financial institution whose primary purpose is accepting savings deposits. It may also perform some other functions.In Europe, savings banks originated in the 19th or sometimes even the 18th century. Their original objective was to provide easily accessible savings products to...
. The bank
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
has 90 branch offices in Nordland
Nordland
is a county in Norway in the North Norway region, bordering Troms in the north, Nord-Trøndelag in the south, Norrbottens län in Sweden to the east, Västerbottens län to the southeast, and the Atlantic Ocean to the west. The county was formerly known as Nordlandene amt. The county administration is...
, Tromsø
Tromsø
Tromsø is a city and municipality in Troms county, Norway. The administrative centre of the municipality is the city of Tromsø.Tromsø city is the ninth largest urban area in Norway by population, and the seventh largest city in Norway by population...
, Finnmark
Finnmark
or Finnmárku is a county in the extreme northeast of Norway. By land it borders Troms county to the west, Finland to the south and Russia to the east, and by water, the Norwegian Sea to the northwest, and the Barents Sea to the north and northeast.The county was formerly known as Finmarkens...
and Svalbard
Svalbard
Svalbard is an archipelago in the Arctic, constituting the northernmost part of Norway. It is located north of mainland Europe, midway between mainland Norway and the North Pole. The group of islands range from 74° to 81° north latitude , and from 10° to 35° east longitude. Spitsbergen is the...
and a head office in Tromsø
Tromsø
Tromsø is a city and municipality in Troms county, Norway. The administrative centre of the municipality is the city of Tromsø.Tromsø city is the ninth largest urban area in Norway by population, and the seventh largest city in Norway by population...
. It has 250,000 private and 40,000 institutional customers with total assets of NOK
Norwegian krone
The krone is the currency of Norway and its dependent territories. The plural form is kroner . It is subdivided into 100 øre. The ISO 4217 code is NOK, although the common local abbreviation is kr. The name translates into English as "crown"...
48 billion. The bank is a founding member of the bank alliance
Business alliance
A business alliance is an agreement between businesses, usually motivated by cost reduction and improved service for the customer. Alliances are often bounded by a single agreement with equitable risk and opportunity share for all parties involved and are typically managed by an integrated project...
SpareBank 1
Sparebank 1
SpareBank 1 is a Norwegian alliance and brand name for savings bank. The alliance is organised through the company SpareBank 1 Gruppen AS that is owned by the participating banks. In total the alliance is Norway's second largest bank with total assets of NOK 625 billion, 352 branches and 6300...
, with a 19.5% ownership.
History
The first of the many savings banks that now is part of Sparebanken Nord-Norge was Tromsø Sparebank, founded in 1836. After that, especially in the mid-19th century many savings banks were established in Northern Norway.In the 1960s and onwards to the 1980s there were was a tred of merging local savings banks to larger unites. Tromsø Sparebank merged with nine other banks in Troms and Finnmark to form a large Tromsø Sparebank in the period 1963-1984 while another savings bank, Sparebanken Nord, arose consisting of a merger between ten other banks in the same counties. In Nordland the bank Sparebanken Nordland emerged in 1985 after the merge of 14 local savings banks.
In 1988 Norway was struck by a bank crisis and this forced Tromsø Sparebank and Sparebanken Nord to merge to form Sparebanken Nord-Norge. In 1991 Nordkapp Sparebank and in 1992 Sparebanken Nordland also joined.