BankNordik is a

Faroe Islands The Faroe Islands ( ), or simply the Faroes ( fo, Føroyar ; da, Færøerne ), are a North Atlantic island group and an autonomous territory of the Kingdom of Denmark. They are located north-northwest of Scotland, and about halfway bet ...

-based financial services company that provides

banking A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because ...

and

insurance Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...

services. It also provides some services in Denmark and

Greenland Greenland ( kl, Kalaallit Nunaat, ; da, Grønland, ) is an island country in North America that is part of the Kingdom of Denmark. It is located between the Arctic and Atlantic oceans, east of the Canadian Arctic Archipelago. Greenland is t ...

. The Faeroese bank was previously known as Føroya Banki but after acquiring assets abroad, a new name was chosen to reflect its new market reach. It is one of the two full-service banking firms in the Faroe Islands. The bank's services cover 40% of the market share in the Faroe Islands.

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

External links

Bank Profile: P/F BankNordik
{{Portal, Banks Financial services companies of the Faroe Islands