The banking sector in Norway consists of approximately 120 banks including commercial banks, regional banks, savings banks and branches of foreign banks. Financial Supervisory Authority of Norway (Finanstilsynet), a government agency, regulates all financial institutions in the country. Norges Bank, established on June 14, 1816, is the central bank of Norway. Below is a list of the largest banks in Norway.
DNB ASA, headquartered in Oslo, is the largest bank and financial services group in Norway with over 9,200 employees, 2.3 million retail and corporate customers, 1.3 million active internet bank users and US$326 billion in total assets at March 31, 2019. Founded in 1822, it is the oldest private bank in the country. DNB’s main subsidiaries include DNB Bank ASA, DNB Forsikring AS (DNB insurance), DNB Livsforsikring AS (DNB life insurance) and DNB Asset Management Holding. DNB Bank ASA is rated Aa2 by Moody’s and AA- by Standard & Poor's. As of September 30, 2019, DNB ASA had a market capitalization of US$28 billion.
Handelsbanken is one of the leading banks in Norway with assets of about US$30 billion and 700 employees. It provides a comprehensive range of products and services through a network of 49 branches across the country. It offers personal and mortgage loans, savings accounts, pension solutions, insurance, online banking, debit and credit cards, international payments, cards for children and adolescents as well as investments and financing advice and tailor-made solutions, among others.
SpareBank 1 SR-Bank
SpareBank 1 SR-Bank ASA, established in 1976, is the largest regional bank and the second largest Norwegian owned banking institution with total assets of US$27 billion. It provides a wide array of financial products and services for retail and corporate customers in Aust-Agder, Vest-Agder, Rogaland, and Hordaland counties. It offers deposits, loans, credit cards, mobile and online banking, pension plans, factoring and leasing as well as insurance services including auto insurance, mortgage insurance, and travel and life insurance. The company is part of the SpareBank 1 Alliance which includes 14 banks and 300 branches across Norway. The company is headquartered at Bjergsted Terrasse 1, Stavanger.
Sparebank 1 SMN
Sparebank 1 SMN, based in Trondheim, is the fourth largest bank in Norway in terms of total assets. With over 200,000 clients and 1,400 employees, it operates about 50 branches in 42 municipalities throughout Trondelag, More og Romsdal and Sogn og Fjordane. The company was established in May 1823. As of March 1, 2019, it had a market capitalization of US$1.4 billion.
Santander Consumer Bank
Santander Consumer Bank AS, with operations in Norway, Sweden and Denmark, it offers personal loans, deposit products, credit cards, car finance, foreign exchange, financial leasing, consignment and other services. The company is the fifth largest bank in Norway by assets. It finances every tenth car in the country. As of December 31, 2018, it had US$17.2 billion in total assets, US$14.4 billion in customer loans and US$6.3 billion in customer deposits. Santander Consumer Bank operates as subsidiary of Santander Consumer Finance S.A. and is headquartered at Strandveien 18, Lysaker, Greater Oslo Region (Stor-Oslo).
SpareBank 1 Nord-Norge
Founded in 1836, it is a Norwegian regional bank with 840 employees and 39 branches in 36 municipalities across Troms, Nordland, Svalbard and Finnmark. SpareBank 1 Nord-Norge is the result of the merger of 40 savings banks in Northern Norway. In 2018, the company’s total deposits amounted to NOK 63.985 billion and retail lending reached NOK 82.4 billion.
Sbanken ASA (formerly known as Skandiabanken ASA) is the leading online retail bank in Norway and the largest internet bank in Scandinavia. It is independent of Sweden-based Skandiabanken. The company provides financial products and services only to private individuals. It offers current accounts, high-interest and security deposit accounts, consumer loans, mortgages, car loans, custody account loans, credit cards, international payments and card transactions, security solutions and other services. The company was established in 2000 and is based in Bergen. As of March 2019, Sbanken group served over 450,000 customers and employed around 300 employees.
Bank Norwegian AS, one of the top 10 banks in Norway, is an online bank established in November 2017 and is headquartered at Snarøyveien 36, Fornebu. With over 1.5 million customers, it also has operations in Finland, Sweden and Denmark. The Bank offers a diverse range of products and services for retail market including instalment loans, credit cards, reward cards, deposit accounts and insurance products. Bank Norwegian is a division of Norwegian Finans Holding. In 2018, the Bank's profit after tax and net interest income reached US$206 million and US$505 million, respectively.
Branches of Foreign Banks in Norway
Here is a list of foreign banks' branches, subsidiaries and representative offices in Norway.
BNP Paribas S.A., Norway Branch
PO Box 106 Sentrum, 0102 Oslo
Opening Hours: Monday - Friday, 8 am - 4 pm
Tel: +47 2282 9500
SWIFT Code: BNPANOKK
Citibank International Ltd, Norway Branch
Address: Bolette brygge 1, 0252 Oslo
Tel: +47 2200 9600
Crédit Agricole CIB, representative office in Oslo, provides services for shipping and offshore clients.
PO Box 1675, Vika 0120, Oslo
Tel: + 47 22 010650
J.P. Morgan Europe Limited
Address: Tordenskiolds gate 6, 0160 Oslo, Norway
Tel: +47 22 00 3014 (Treasury & Securities Services)
+47 22 00 3010 (Global Corporate Bank)
Swedbank Norge AS
Address: Filipstad Brygge 1, 0252 Oslo, Norway
Phone: +47 2323 8000
Fax: +47 2311 8001
BMW Financial Services
Carnegie Investment Bank
Deutsche Bank AG, Oslo Branch
De Lage Landen (Leasing) is a subsidiary of Coöperatieve Rabobank, a Dutch financial group.
GE Money Bank
Nordea Bank Norge ASA
Santander Consumer Bank AS
Siemens Financial Services
Skandinaviska Enskilda Banken