SpareBank 1 is a

Norwegian Norwegian, Norwayan, or Norsk may refer to: *Something of, from, or related to Norway, a country in northwestern Europe *Norwegians, both a nation and an ethnic group native to Norway *Demographics of Norway *The Norwegian language, including the ...

alliance An alliance is a relationship among people, groups, or states that have joined together for mutual benefit or to achieve some common purpose, whether or not explicit agreement has been worked out among them. Members of an alliance are called ...

and brand name for a group of

savings bank A savings bank is a financial institution whose primary purpose is accepting savings account, savings deposits and paying interest on those deposits. History of banking, They originated in Europe during the 18th century with the aim of providi ...

s. The alliance is organised through the holding company ''SpareBank 1 Gruppen AS'' owned by the participating banks. In total the alliance is Norway's second largest bank with total assets of

NOK Nok is a village in Jaba Local Government Area of Kaduna State, Nigeria. The village is an archeological site. Archaeology The discovery of terracotta figurines at this location caused its name to be used for the Nok culture, of which these ...

625 billion, 352 branches and 6300 employees. The alliance has its head office in

Oslo Oslo ( , , or ; sma, Oslove) is the capital and most populous city of Norway. It constitutes both a county and a municipality. The municipality of Oslo had a population of in 2022, while the city's greater urban area had a population of ...

, Norway. The banks in the SpareBank 1 Alliance distribute SpareBank 1 groups' products and collaborate in key areas such as brands, work processes, expertise development, IT operations and system development. Companies in the group include the

mutual fund A mutual fund is a professionally managed investment fund that pools money from many investors to purchase securities. The term is typically used in the United States, Canada, and India, while similar structures across the globe include the SICAV i ...

company

ODIN Forvaltning ODIN Fund Management is one of the largest Norwegian mutual fund A mutual fund is a professionally managed investment fund that pools money from many investors to purchase securities. The term is typically used in the United States, Canada, and I ...

, the life insurance company ''SpareBank 1 Livsforsikring'', the insurance company ''SpareBank 1 Skadeforsikring'', the

credit card A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder's accrued debt (i.e., promise to the card issuer to pay them for the amounts plus the o ...

company ''SpareBank 1 Medlemskort'', ''SpareBank 1 Utvikling'', the commercial

bank 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 ...

''Bank 1 Oslo'', the car finance company ''SpareBank 1 Bilplan'' (19.9%) and the

securities A security is a tradable financial asset. The term commonly refers to any form of financial instrument, but its legal definition varies by jurisdiction. In some countries and languages people commonly use the term "security" to refer to any for ...

company ''First Securities'' (24.5%).

History

In 1996 the original members of the alliance, Sparebanken SMN, Sparebanken Nord-Norge, Sparebanken Rogaland and

Sparebanken Vest Sparebanken Vest () is the third largest savings bank in Norway, and the country's second oldest bank. Its predecessor, Bergens Sparebank, was established in 1823. The main offices lie in Bergen, though the bank has branches throughout Hordaland, S ...

founded the alliance, at first (but never branded) as Sparebankgruppen. The same year the company bought the

life insurance Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death ...

company DAVID Livsforsikring, now SpareBank 1 Livsforsikring, in addition to part of the

company

, now wholly owned by SpareBank 1. In 1997 the alliance of small savings banks Samarbeidende Sparebanker. In 1998 the

Swedish Swedish or ' may refer to: Anything from or related to Sweden, a country in Northern Europe. Or, specifically: * Swedish language, a North Germanic language spoken primarily in Sweden and Finland ** Swedish alphabet, the official alphabet used by ...

bank

FöreningsSparbanken Swedbank AB () is a Nordic- Baltic banking group based in Stockholm, Sweden, offering retail banking, asset management, financial, and other services. In 2019 Swedbank had 900,000 private and 130,000 corporate clients and a 60% market share ...

(now

Swedbank Swedbank AB () is a Nordic-Baltic banking group based in Stockholm, Sweden, offering retail banking, asset management, financial, and other services. In 2019 Swedbank had 900,000 private and 130,000 corporate clients and a 60% market share of ...

) purchased 24% of the company. The same year Sparebank 1 established a

company followed in 1999 with the establishment of the

real estate agent A real estate agent or real estate broker is a person who represents sellers or buyers of real estate or real property. While a broker may work independently, an agent usually works under a licensed broker to represent clients. Brokers and agen ...

''EiendomsMegler 1''. The company also buys part of ''First Securities''. The same year SpareBank 1 purchased ''VÅR Bank'' from the labour union Landsorganisasjonen (LO). This bank was renamed ''Bank 1 Oslo'', with branches in Oslo and

Akershus Akershus () is a traditional region and current electoral district in Norway, with Oslo as its main city and traditional capital. It is named after the Akershus Fortress in Oslo. From the middle ages to 1919, Akershus was a fief and main county ...

while other branches of the bank were taken over by other alliance members. LO acquired at the same time 10% of the stocks in SpareBank 1. In 2003 the first major member of the alliance leaves when Sparebanken Vest sells its shares. In 2006 Sparebanken Hedmark entered the group, while FöreningsSparbanken sold its shares.

Member banks

SpareBank 1 Gruppen is owned by the participating banks.

Sparebanken Hedmark SpareBank 1 Østlandet is the fourth largest Norway, Norwegian savings bank and is based in eastern Norway. The bank´s major market is in the counties of Innlandet, Oslo and Viken. The company head office is situated in Hamar, and the bank has 37 ...

(12%),

SpareBank 1 SMN SpareBank 1 SMN is a Norwegian savings bank based in Trøndelag. The bank 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 ...

(19.5%),

SpareBank Nord-Norge 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 bil ...

(19.5%) and SpareBank 1 SR-Bank (19.5%) all own part of the company directly while the remaining banks own through

Samarbeidende Sparebanker Samarbeidende Sparebanker AS is a Norwegian bank holding company that owns 19.50 percent of SpareBank 1 Gruppen. As of 2012 the group was owned by the following Norwegian savings banks: * SpareBank 1 Buskerud-Vestfold *SpareBank 1 Østfold Akersh ...

(19.5%). The

labor union A trade union (labor union in American English), often simply referred to as a union, is an organization of workers intent on "maintaining or improving the conditions of their employment", ch. I such as attaining better wages and benefits ( ...

Landsorganisasjonen (10%) also has an ownership in the company. Samarbeidende Sparebanker consists of: * SpareBank 1 Buskerud-Vestfold *

SpareBank 1 Østfold Akershus SpareBank 1 Østfold Akershus is a Norwegian savings bank, headquartered in Moss, Norway. The banks main market is Østfold and Akershus. The history of the bank can be traced back to 1835. References

{{DEFAULTSORT:SpareBank 1 Ostfold Aker ...

*SpareBank 1 Hallingdal *SpareBank 1 Gudbrandsdal *

SpareBank 1 Ringerike Hadeland SpareBank 1 Ringerike Hadeland is a Norwegian savings bank, headquartered in Hønefoss, Norway. The bank's main market is Ringerike (municipality), Ringerike in Buskerud and the Hadeland district of Oppland. The history of the bank goes back to 4 ...

SpareBank 1 Nordvest SpareBank 1 Nordvest is a Norway, Norwegian savings bank with branches in Nordmøre in addition to Molde and Ålesund. The bank has 11 branch offices with a head office in Kristiansund and has total assets of Norwegian krone, NOK 5 billion. The ba ...

SpareBank 1 Nøtterøy–Tønsberg SpareBank 1 Nøtterøy–Tønsberg is a Norwegian savings bank, headquartered in Nøtterøy, Norway. The banks main market is Vestfold Vestfold is a traditional region, a former county and a current electoral district in Eastern Norway. In 202 ...

*SpareBank 1 Telemark *SpareBank 1 Lom og Skjå *SpareBank 1 Søre Sunnmøre Other associates: *Rygge-Vaaler Sparebank *BNbank

Sponsorships

Sparebank 1 sponsors the Norwegian

Tippeligaen Eliteserien () is a Norwegian professional league for association football clubs. At the top of the Norwegian football league system, it is the country's primary football competition. Contested by 16 clubs, it operates on a system of promotion ...

football team

Viking F.K. Viking Fotballklubb, commonly known as Viking or Viking Stavanger internationally, is a Norwegian football club from the city of Stavanger. The club was founded in 1899. It is one of the most successful clubs in Norwegian football, having won ...

The Sparebank 1 logo can be found on the back across the top of the shirt.

External links

SpareBank 1 web site
{{Authority control Banking in Norway Companies based in Oslo Organizations established in 1996 Banking organizations 1996 establishments in Norway