Sparebank 1

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SpareBank 1
Type	Private
Founded	1996
Headquarters	Oslo, Norway
Key people	Gunn Wærsted (CEO)
Area served	Norway
Industry	Banking
Employees	4,700 (2006)
Website	www.sparebank1.no

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 third largest bank with total assets of NOK 300 billion, 340 branches and 4700 employees. The alliance has its head office in Oslo, Norway. The alliances main purposes is supplementing the banks with securities and insurance as well as a techonological platform.

Companies in the group include the mutual fund company ODIN Forvaltning, , the life insurance company Sparebank 1 Livsforsikring, the insurance company SpareBank 1 Skadeforsikring, the credit card company SpareBank 1 Medlemskort, SpareBank 1 Utvikling, the commercian bank Bank 1 Oslo, the car finance company SpareBank 1 Bilplan (19.9%) and the secturities company First Secturities (24.5%).

Contents 1 Member banks 2 History 3 Sponsorships 4 External links

[edit] Member banks

SpareBank 1 Gruppen is owned by the participating banks. Sparebanken Hedmark (12%), Sparebanken Midt-Norge (19.5%), Sparebanken Nord-Norge (19.5%) and Sparebanken Rogaland (19.5%) all own part of the company directly while the remaining banks own through Samarbeidende Sparebanker AS (19.5%). The labor union Landsorganisasjonen (10%) also has an ownership in the company while the group itself ownes Bank 1 Oslo.

In addition to the member banks, Sparebanken Vest and Sparebanken Pluss sell products from SpareBank 1.

Bank	Website	Main office	Founded	Branches	Ownership
Bank 1 Oslo	[1]	Oslo		11	n/a
Fron Sparebank	[2]				SS
Gjerpen og Solum Sparebank	[3]	Skein		5	SS
Gran Sparebanken	[4]	Gran			SS
Halden Sparebank	[5]	Halden	1835	2	SS
Kvinnherad Sparebank	[6]	Kvinnherad	1928	6	SS
Lom og Skjåk Sparebank	[7]	Lom		3	SS
Modum Sparebank	[8]	Modum	1841	3	SS
Nøtterø Sparebank	[9]	Tønsberg	1857	2	SS
Ringerikes Sparebank	[10]	Hønefoss	1833	6	SS
Rygge-Vaaler Sparebank	[11]	Moss		8	SS
Sandsvær Sparebank	[12]	Kongsberg	1883		SS
SpareBank 1 Hallingdal	[13]	Ål			SS
Sparebanken Drammen	[14]	Drammen			SS
Sparebanken Grenland	[15]	Porsgrunn		2	SS
Sparebanken Hedmark	[16]	Hamar	1835	30	12%
Sparebanken Jevnaker Lunner	[17]	Jevnaker		4	SS
Sparebanken Midt-Norge	[18]	Trondheim		71	19.5%
Sparebanken Nord-Norge	[19]	Tromsø		90	19.5%
Sparebanken Nordvest	[20]	Kristiansand	1835	11	SS
Sparebanken Rogaland	[21]	Stavanger	1839	50	19.5%
Sparebanken Valdres	[22]	Fagernes		1	SS
Sparebanken Vestfold	[23]	Sandefjord	1859	5	SS
Sparebanken Volda Ørsta	[24]	Volda	1853	5	SS

Banks marked SS are part of Samarbeidende Sparebanker.

[edit] History

In 1996 the original members of the alliance, Sparebanken Midt-Norge, Sparebanken Nord-Norge, Sparebanken Rogaland and Sparebanken Vest founded the alliance, at first (but never branded) as Sparebankgruppen. The same year the company bought the life insurance company DAVID Livsforsikring, now SpareBank 1 Livsforsikring, in addition to part of the mutual fund company ODIN Forvaltning, now wholly owned by SpareBank 1. In 1997 the alliance of small savings banks Samarbeidende Sparebanker.

In 1998 the Swedish bank FöreningsSparbanken (now Swedbank) purchased 24% of the company. The same year Sparebank 1 established a credit card company followed in 1999 with the establishment of the real estate agent EiendomsMegler 1. The company also buys part of First Secturities.

The same year SpareBank 1 purchased VÅR Bank from the labour union Landsorganisasjonen (LO). This bank was renamed Bank 1 Oslo, with branches in Oslo and Akershus while other branches of the bank were taken over by other alliance members. LO acquired at the same time 10% of the stocks in SpareBank 1.

In 2003 the first major member of the alliance leaves when Sparebanken Vest sells its shares. In 2006 Sparebanken Hedmark entered the group, while FöreningsSparbanken sold its shares.

[edit] Sponsorships

Sparebank 1 sponsor the Norweigan Tippeligaen football team Viking F.K.. The Sparebank 1 logo can be found across the top of the shirt, on the back.

[edit] External links

• SpareBank 1 web site