Sparebanken Midt-Norge
Encyclopedia
Sparebanken Midt-Norge is a Norwegian
savings bank
based in Trøndelag
.
Sparebanken Midt-Norge has 71 branches in 51 municipalities
in Central Norway and is part of the bank alliance
SpareBank 1
. In Nord-Trøndelag
and Sør-Trøndelag
the bank is branded SpareBank 1 Midt-Noge while it is branded SpareBank 1 Romsdals Fellesbank in Møre og Romsdal
. The company has its head office in Trondheim
.
The bank has total assets of NOK
46 billion, making it the 9th largest bank in Norway. In Trøndelag the bank has a marked share of 38% while it has a 28% marked share in Romsdal
. The bank serves both private customers in addition to agricultural, small and medium sized businesses in addition to the public sector.
. In 1996 it was one of the founding banks of the alliance SpareBank 1, where it today holds a 19.5% ownership. In 2005 it bought the commercial bank Romsdals Fellesbank.
The Norwegian subsidiary of Iceland
’s Glitnir Bank, Glitnir Bank ASA in Norway, was sold for NOK
300 million on October 21, 2008, or ISK
5.5 billion, but its current worth is estimated at ISK
36.5 billion . Glitnir ASA was bought by 20 savings banks. The takeover was led by Finn Haugan, the managing director of Sparebank 1 SMN which acquired a 25-percent stake in the bank.
Norway
Norway , officially the Kingdom of Norway, is a Nordic unitary constitutional monarchy whose territory comprises the western portion of the Scandinavian Peninsula, Jan Mayen, and the Arctic archipelago of Svalbard and Bouvet Island. Norway has a total area of and a population of about 4.9 million...
savings bank
Sparebank
Sparebank is a Norwegian savings bank without external owners. The Norwegian sparebanks are a separate type of juridical entity that differ from commercial banks. There are a total of 123 savings banks in Norway.- History :...
based in Trøndelag
Trøndelag
Trøndelag is the name of a geographical region in the central part of Norway, consisting of the two counties Nord-Trøndelag and Sør-Trøndelag. The region is, together with Møre og Romsdal, part of a larger...
.
Sparebanken Midt-Norge has 71 branches in 51 municipalities
Municipalities of Norway
Norway is divided into 19 administrative regions, called counties , and 430 municipalities...
in Central Norway and is part of the bank alliance
Business alliance
A business alliance is an agreement between businesses, usually motivated by cost reduction and improved service for the customer. Alliances are often bounded by a single agreement with equitable risk and opportunity share for all parties involved and are typically managed by an integrated project...
SpareBank 1
Sparebank 1
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 second largest bank with total assets of NOK 625 billion, 352 branches and 6300...
. In Nord-Trøndelag
Nord-Trøndelag
is a county constituting the northern part of Trøndelag in Norway. As of 2010, the county had 131,555 inhabitants, making it the country's fourth-least populated county. The largest municipalities are Stjørdal, Steinkjer—the county seat, Levanger, Namsos and Verdal, all with between 21,000 and...
and Sør-Trøndelag
Sør-Trøndelag
- References :...
the bank is branded SpareBank 1 Midt-Noge while it is branded SpareBank 1 Romsdals Fellesbank in Møre og Romsdal
Møre og Romsdal
is a county in the northernmost part of Western Norway. It borders the counties of Sør-Trøndelag, Oppland and Sogn og Fjordane. The county administration is located in Molde, while Ålesund is the largest city.-The name:...
. The company has its head office in Trondheim
Trondheim
Trondheim , historically, Nidaros and Trondhjem, is a city and municipality in Sør-Trøndelag county, Norway. With a population of 173,486, it is the third most populous municipality and city in the country, although the fourth largest metropolitan area. It is the administrative centre of...
.
The bank has total assets of NOK
Norwegian krone
The krone is the currency of Norway and its dependent territories. The plural form is kroner . It is subdivided into 100 øre. The ISO 4217 code is NOK, although the common local abbreviation is kr. The name translates into English as "crown"...
46 billion, making it the 9th largest bank in Norway. In Trøndelag the bank has a marked share of 38% while it has a 28% marked share in Romsdal
Romsdal
Romsdal is the name of a traditional district in the Norwegian county Møre og Romsdal, located between Nordmøre and Sunnmøre. The district of Romsdal comprises Aukra, Fræna, Midsund, Molde, Nesset, Rauma, Sandøy, and Vestnes. It is named for the valley of Romsdalen, which covers part of Rauma.The...
. The bank serves both private customers in addition to agricultural, small and medium sized businesses in addition to the public sector.
History
Though the bank has its roots bank to 1823, Sparebanken Midt-Norge was created in 1984 when 23 savings banks in Trøndelag merged to create a regional savings bank. In 1988 Spareskillingsbanken was also merged into the bank. The bank created grunnfondsbevis in 1994 and listed itself on Oslo Stock ExchangeOslo Stock Exchange
The Oslo Stock Exchange serves as the main market for trading in the shares of Norwegian companies. It opens at 9:00am and closes 5:30pm local time...
. In 1996 it was one of the founding banks of the alliance SpareBank 1, where it today holds a 19.5% ownership. In 2005 it bought the commercial bank Romsdals Fellesbank.
The Norwegian subsidiary of Iceland
Iceland
Iceland , described as the Republic of Iceland, is a Nordic and European island country in the North Atlantic Ocean, on the Mid-Atlantic Ridge. Iceland also refers to the main island of the country, which contains almost all the population and almost all the land area. The country has a population...
’s Glitnir Bank, Glitnir Bank ASA in Norway, was sold for NOK
NOK
NOK or Nok may refer to:*Kiel Canal *Norwegian krone, NOK is the ISO 4217 code and is used as an abbreviation for the currency.*NYSE stock ticker for Nokia Corporation, based in Finland...
300 million on October 21, 2008, or ISK
Isk
Isk or ISK may mean:* Icelandic króna, the national currency of Iceland* Internationaler Sozialistischer Kampfbund, a now-defunct German socialist party* Iso suomen kielioppi* the currency in the space MMORPG Eve Online...
5.5 billion, but its current worth is estimated at ISK
Isk
Isk or ISK may mean:* Icelandic króna, the national currency of Iceland* Internationaler Sozialistischer Kampfbund, a now-defunct German socialist party* Iso suomen kielioppi* the currency in the space MMORPG Eve Online...
36.5 billion . Glitnir ASA was bought by 20 savings banks. The takeover was led by Finn Haugan, the managing director of Sparebank 1 SMN which acquired a 25-percent stake in the bank.