Banks in Norway

Overview of Banks in Norway

Norway (officially the Kingdom of Norway) is a prosperous and democratic country in Northern Europe, located mainly at the western portion of the Scandinavian Peninsula. Norway has a very high standard of living, a low level of corruption, and a high level of education and health care. Norway has achieved these highest standards of living in the world partially by having a large number of natural resources compared to the size of its population

Norway has a mixed economy with free-market activity and large state ownership in certain key sectors (for example, in the petroleum sector, hydroelectric energy production, aluminum production, telecommunications, and banking).

The financial marketThe Financial MarketThe term "financial market" refers to the marketplace where activities such as the creation and trading of various financial assets such as bonds, stocks, commodities, currencies, and derivatives take place. It provides a platform for sellers and buyers to interact and trade at a price determined by market more has been progressing swiftly and is ranked very high by the World Economic Forum.

Structure of Banks in Norway

The banking structure of Norway is classified into the following 3 types:

These banks in Norway have the oversight of the Financial Supervisory Authority of Norway.

Top 10 Banks in Norway

The top banks in Norway can be described below:

Banks in Norway

You are free to use this image on your website, templates etc, Please provide us with an attribution linkHow to Provide Attribution?Article Link to be Hyperlinked
For eg:
Source: Banks in Norway (

#1. Bank Norwegian AS

This top bank in Norway is an established institution providing loans, savings account and credit card facility to customers. It was founded in 2007 with its headquarters in Fornebu, Norway and it is a Wholly owned subsidiaryA Wholly Owned SubsidiaryWhen a company’s almost all of the outstanding shares are owned by another company (parent) then it can be said that it is a wholly-owned subsidiary of that company and it is controlled by the parent company. For example, Walt Disney Entertainment owns 100% of Marvel Entertainment which produces more of Norwegian Finans Holding ASA.

It is an online market for the private sector and aims to offer sophisticated financial services with the aid of technology of innovation. The Net income for the group for 2015 was NOK 539 million [1 US$ = 8.1 NOK]

#2. DNB Bank

It is the largest financial services group with the 2 largest owners being the Norwegian Ministry of Trade and Industry and Sparebankstiftelsen DnB NOR. They offer services to the Corporate, Retail, Securities market and the Public sector.

The group’s activities are primarily focussed in Norway but are also one of the world’s advanced Shipping banks and an established player in the Energy, Fisheries and Seafood industry. The Net Profit for 3Q’17 is NOK 5.64 billion with a Return on EquityReturn On EquityReturn on Equity (ROE) represents financial performance of a company. It is calculated as the net income divided by the shareholders equity. ROE signifies the efficiency in which the company is using assets to make more of 11.2% for 3Q’17.

#3. Handelsbanken

This top bank in Norway is a Swedish bank offering universal bankingUniversal BankingUniversal banking, in contrast to traditional banking institutions, offers a wider range of banking and financial services, including insurance, development banking, investment banking, commercial banking, and other financial more services with the branch in Oslo, Norway being one of the leading banks for Personal and business customers. It is the fourth largest bank in Norway established in 1986 with over 800 employees and offering services such as:

#4. Storebrand Bank ASA

It is a commercial top bank in Norway and a subsidiary of Storebrand ASA (leading provider of Insurance and Pension products in Norway & Sweden). They provide a broad range of retail banking products and services to Individuals and Corporate customers and is the 18th largest bank in Norway. The Net Profit for 2016 was NOK 173.83 mm with a market share of 0.60%

The bank was founded in 2006 with its headquarters in Lysaker, Norway. The commercial bank provides a broad range of retail banking products and services to various classes of customers. It is a public company listed on the Oslo stock exchange.

#5. Sparebank 1 SMN

The bank is the third top bank in Norway with respect to assets offering banking and financial products and services to individuals and corporate customers. The Net Profit for 3Q’17 was NOK 1,250 mm. The bank is employing over 1,000 employees across 55 locations and 45 municipalities with its headquarters in Trondhiem. It is one of the six owners of the SpareBank 1 Alliance.

The bank also addresses:

  • Private & Public sector
  • Agricultural sector
  • SME

#6. BN Bank ASA

This is a top bank in Norway based in Trondhiem with a branch in Oslo formerly known as Bolig- og Næringsbanken. It is owned by Sparebank 1 alliance with 50,000 customers and 15th largest bank in Norway in terms of assets (NOK 48 billion). The bank does not offer advanced investment products but provides:

#7. Santander Consumer Bank AS

The bank is a subsidiary of Santander Consumer Finance SA and offers:

It is one of the top banks in Norway and recorded Net Profit of NOK 934 million for Q2 2017. Their strategic initiatives will continue to make further investments in the innovation and launching of new products.

#8. Skandiabanken

Established in 2000, the Norway bank is headquartered in Bergen and is the largest internet-based bank in Scandanavia. It specialises in offering banking products to retail customers and other products such as:

As of Q1’17, the market capitalization was NOK 7.6 billion with a customer base of 400,000, NOK 71.2 billion in assets and NOK 63.5 billion of loans and regarded as highly reputed for customer satisfaction.

#9. Sparebanken Møre

This is a Norwegian savings bank with its headquarters in Alesund, Norway and came into existence in 1985 when several savings banks in Romsdal merged. The bank specializes in basic banking facilities such as:

  • Savings bank account facility
  • Card transaction
  • Loan facility
  • Insurance
  • Payment protection
  • Phone Banking
  • Merchant services

For Q3’17, the organization reported NII of NOK 281 million with an after-tax profit of NOK 139 million. This bank in Norway is relatively small in size but ensures the banking expectations are met on a regular basis.

#10. yA Bank

This top bank in Norway offers basic financial and banking services to personal customers. It was established in 2006 with its headquarters in Oslo, Norway has a customer base of 100,000 customers. The bank is wholly owned by Swedish Resurs Bank AB which acquired the bank in 2015.

Apart from the regular banking services of loans in deposits, they also guide in:

These are in line with to promotion of the fisheries industry which is a high income generating for Norway.

As of March 2017, it had total assets of NOK 6.037 billion, Net Loans of NOK 4.953 billion and Deposits of NOK 4.953 billion.

We hope you liked this guide to top banks in Norway. If you are looking forward to making a career in Banking, then you can check out some of the awesome resources –

Reader Interactions

Leave a Reply

Your email address will not be published. Required fields are marked *