Sparebanken Nord-Norge

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Sparebanken Nord-Norge
Type	Savings bank
Founded	1836
Headquarters	Tromsø, Norway
Key people	Hans Olav Karde (CEO)
Area served	Norther Norway
Industry	Banking
Revenue	NOK 1,666 million (2005)
Operating income	NOK 794 million (2005)
Net income	NOK 557 million (2005)
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.

[edit] 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-1800s 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.

[edit] External links

• Corporate web site