Sparebankstiftelsen DnB NOR

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Sparebankstiftelsen DnB NOR
Type Foundation
Founded 2002
Headquarters Oslo, Norway
Key people Frode Helgerud (CEO)
Area served Norway
Industry Holding company
Employees 5 (2006)
Website www.sparebankstiftelsen.no

Sparebankstiftelsen DnB NOR is a Norwegian foundation with the purpose of owning part of the financial services company DnB NOR. As of 2006 the foundation owned 10.95% of DnB NOR. The board of the foundation is elected among all the customers of DnB NOR. The foundation may choose to use up to 25% of the paid dividends on charity.

[edit] History

The foundation was created when the two savings banks Sparebanken NOR (bank) and Gjensidige (insurance) merged to Gjensidige NOR and in 2002 became a public limited company and listed on Oslo Stock Exchange. The foundation was created to own part of the company to continue the tradition that the customers of savings bank's own part of the bank. When Gjenside NOR merged with Den norske Bank in 2003 to form DnB NOR in 2003 the company retained an ownership in the newly created company.

[edit] See also