SpareBank 1 SR-Bank formerly Sparebanken Rogaland, is the largest 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...

 in Norway

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...

. 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 50 branch offices in 26 municipalities

Municipalities of Norway

Norway is divided into 19 administrative regions, called counties , and 430 municipalities...

 in Rogaland

Rogaland

is a county in Western Norway, bordering Hordaland, Telemark, Aust-Agder and Vest-Agder. It is the center of the Norwegian petroleum industry, and as a result of this, Rogaland has the lowest unemployment rate of any county in Norway, 1.1%...

, Agder

Agder

Agder is a historical district of Norway in the southernmost region of Norway, corresponding to the two counties Vest-Agder and Aust-Agder. Today, the term Sørlandet is more commonly used.-Name:...

 and Hordaland

Hordaland

is a county in Norway, bordering Sogn og Fjordane, Buskerud, Telemark and Rogaland. Hordaland is the third largest county after Akershus and Oslo by population. The county administration is located in Bergen...

 and a head office in Stavanger

Stavanger

Stavanger is a city and municipality in the county of Rogaland, Norway.Stavanger municipality has a population of 126,469. There are 197,852 people living in the Stavanger conurbation, making Stavanger the fourth largest city, but the third largest urban area, in Norway...

. 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"...

 67 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...

 and is Norway's seventh largest bank.

History

Sparebanken Rogaland was created in 1976 when 22 local savings banks in Rogaland

Rogaland

is a county in Western Norway, bordering Hordaland, Telemark, Aust-Agder and Vest-Agder. It is the center of the Norwegian petroleum industry, and as a result of this, Rogaland has the lowest unemployment rate of any county in Norway, 1.1%...

 merged to form Norway's first regional bank. Since then an additional 17 banks have jointed the company. In 1996 the bank was one of the founding members of 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...

and presently owns 19.5%.