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The BANK of Greenland ( da, GrønlandsBANKEN) is one of two commercial banks in
The Bank of Greenland provides commercial services, as well as products and services for private customers such as loans, specialized and automated deposits, and property trading and administration. With 50,000 customers, the Bank of Greenland has branches in major towns in Greenland, while bank operations in small settlements are handled via the integrated Post Greenland offices in the
The BANK of Greenland ( da, GrønlandsBANKEN) is one of two commercial banks in 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 i ...
, listed on the Copenhagen Stock Exchange
The Nasdaq Copenhagen, formerly known as the Copenhagen Stock Exchange ( da, Københavns Fondsbørs), is an international marketplace for Danish securities, including shares, bonds, treasury bills and notes, and financial futures and options.
...
as GRLA, with 2,700 shareholders in 2017. Headquartered in Nuuk
Nuuk (; da, Nuuk, formerly ) is the capital and largest city of Greenland, a constituent country of the Kingdom of Denmark. Nuuk is the seat of government and the country's largest cultural and economic centre. The major cities from other coun ...
, the bank had 118 employees in 2017.
History
The Bank of Greenland was founded on 26 May 1967 by a number ofDanish
Danish may refer to:
* Something of, from, or related to the country of Denmark
People
* A national or citizen of Denmark, also called a "Dane," see Demographics of Denmark
* Culture of Denmark
* Danish people or Danes, people with a Danish a ...
banks, during the era when Greenland was still a province of Denmark. The founding banks were Privatbanken, Danske Bank, Kjøbenhavns Handelsbank, and an organization of local banks, provincial and Copenhagen
Copenhagen ( or .; da, København ) is the capital and most populous city of Denmark, with a proper population of around 815.000 in the last quarter of 2022; and some 1.370,000 in the urban area; and the wider Copenhagen metropolitan ar ...
-based. Operations started in Nuuk on 1 July 1967, while local branches in Ilulissat, Sisimiut
Sisimiut (), formerly known as Holsteinsborg, is the capital and largest city of the Qeqqata municipality, the second-largest city in Greenland, and the largest Arctic city in North America.The term 'city' is loosely used to describe any popula ...
, and Qaqortoq
Qaqortoq, formerly Julianehåb, is a city in the Kujalleq municipality in southern Greenland, located near Cape Thorvaldsen. With a population of 3,050 in 2020, it is the most populous town and the municipal capital in southern Greenland and the ...
followed in 1985, and in Maniitsoq
Maniitsoq (), formerly Sukkertoppen, is a town in Maniitsoq Island, western Greenland located in the Qeqqata municipality. With 2,534 inhabitants , it is the sixth-largest town in Greenland.
History
Archaeological finds indicate that the are ...
in 1989.
On 8 June 1985 the bank merged with ''Nuna Bank'' (formerly ''Bikuben''), with the capital of 120 million Danish krone (DKK), retaining the name of Grønlandsbanken, and becoming the only commercial bank in the country.
Later, the BankNordik, which has its headquarters on the Faroe Islands, established itself as a competitor with an office in Nuuk, Greenland (BankNordik also has offices in the Faroe Islands).
Operations
The Bank of Greenland provides commercial services, as well as products and services for private customers such as loans, specialized and automated deposits, and property trading and administration. With 50,000 customers, the Bank of Greenland has branches in major towns in Greenland, while bank operations in small settlements are handled via the integrated Post Greenland offices in the Pilersuisoq
Pilersuisoq is a chain of all-purpose general stores in Greenland, a major division of the state-owned KNI conglomerate. Like its parent company, it is based in Sisimiut (Holsteinsborg), the second-largest town in Greenland.
Lars Behrendt is ...
all-purpose stores.
Banca Transilvania deal
The RomanianBanca Transilvania
Banca Transilvania S.A. (also BT or TLV) is a banking institution with headquarters in Cluj-Napoca, Romania. The bank was founded in 1993 in Cluj-Napoca with a capital of 2 billion RON, of which 79% was Romanian and 21% foreign.
BT is the large ...
offered in the beginning of 2018 DKK 1.14 Billion for the Bank of Greenland. The Bank of Greenland did not respond to this offer.
See also
*Economy of Greenland
The economy of Greenland is characterized as small, mixed and vulnerable. Greenland's economy consists of a large public sector and comprehensive foreign trade. This has resulted in an economy with periods of strong growth, considerable inflatio ...
* List of banks in Greenland
References
{{coord, 64, 10, 31, N, 51, 44, 19, W, type:landmark_source:kolossus-frwiki, display=title Banks established in 1967 Banks of Greenland Nuuk 1967 establishments in Greenland