Nordlandsbanken

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Nordlandsbanken ASA
Type of Company	Subsidiary
Founded	1893
Headquarters	Bodø, Norway
Key people	(CEO)
Area served	Nordland, Norway
Industry	Banking
Employees	280 (2006)
Parent	DnB NOR
Website	www.nordlandsbanken.no

Nordlandsbanken is a Norwegian bank serving the County of Nordland. Nordlandsbanken i a wholly owned subsidiary of DnB NOR who bought the bank in 2003. It has total assets of NOK 22 billion and headquarter in Bodø. The bank has 17 branches.

[edit] History

Nordlands Privatbank was etablished on July 1, 1893 as the first commercial bank in Northern Norway. The bank expanded with an cooperations with other banks established Ofotens Bank in Narvik in 1899. Later there were established branches in Svolvær (1910) and Sortland (1918). The boom and bust during World War I and the folloing economical crisis struck the bank hard, and in 1923 the bank was put under public administration, and reemerged as a new bank in 1928. After 1945 the Government lay pressure on small banks to merge.

Nordlandsbanken was created as a merger between Fauske Bank, Søndre Helgelands Kreditbank, Helgelands Fiskeri- og Handelsbank and Nordlands Privatbank. Unil DnB NOR bought the bank in 2003 it was listed on the Oslo Stock Exchange. After the takeover all of Nordlandsbanken's operations outside Nordland, in Oslo and Tromsø, were taken over by DnB NOR, though DnB NOR retained it's branch in Bodø. Part of the reason DnB NOR bought Nordlandsbanken was the economical crisis Nordlandsbanken had come in after loosing NOK 450 million to Finance Credit-system.

[edit] External links

• Nordlandsbanken web site (Norwegian)
• DnB NOR corporate web site