Sparebanken Nord-Norge

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Sparebanken Nord-Norge
Savings bank
Industry Banking
Founded 1836
Headquarters Tromsø, Norway
Area served
Northern Norway
Key people
Hans Olav Karde (CEO)
Revenue Increase NOK 1,666 million (2005)
NOK 794 million (2005)
NOK 557 million (2005)
Number of employees
839 (2006)
Website www.snn.no

Sparebanken Nord-Norge (OSE: NONG), 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.

History[edit]

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 trend 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.

External links[edit]