BankNordik
| Industry | Financial services |
|---|---|
| Founded | 1906 |
| Headquarters | Tórshavn, Faroe Islands |
Key people | Stine Bosse (Chairman)[1] |
| Products | Banking, insurance |
| Profit |
 (DKK 227 million) (2016) |
| Total assets | DKK 15.5 billion(2016) |
| Total equity | DKK 1.9 billion (2016) |
Number of employees | 415 (FTE, 2009) |
| Website |
BankNordik is a financial services company that provides banking and insurance solutions in Iceland, Denmark, Faroe Islands and Greenland. The Faeroese-based bank was previously known as Føroya Banki but after acquiring assets abroad, a new name was chosen to reflect it's new market reach.[2] It is one of the two full service banking firms in Faroe Islands
The bank's services covers 40% of the market share in Faroe Island.[3] In recent years, the bank has scaled bank its geographic operations with the sale of its banking assets in Denmark and its stake in Icelandic insurer Vorour Tryggingar.[4]
Mergers and acquisitions
Over the years, BankNordik has acquired similar assets while also divesting from some markets.
- In February 2010,it acquired 12 branches of Sparbank in Greenland.
- In 2011, the bank acquired some assets of Amagerbanken.
References
- ↑ "Annual report" (PDF).
- ↑ Foroya Bank to become BankNordik. Nordic Business Report (M2). Mar. 17, 2010
- ↑ "Moody's Investors Services: Global Credit Research" (PDF). http://www.euroinvestor.dk/. Moody's. External link in
|website=(help) - ↑ BankNordik launches stake sale in Icelandic insurer, Vorour. Global Banking News (GBN). June 23, 2015
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