Savings banks in Norway

4 June 2020

Having about 200 years of history, savings banks are important players in Norwegian banking sector. Savings banks are regional and local banks, focused on providing retail banking products and services (covering day-to-day banking, savings and investment, and lending) to households and SMEs. Savings banks use both physical bank office channels and electronic channels to deliver their products and services. Most of the savings banks in Norway belong to Eika Gruppen, followed by SpareBank 1.

Despite the decreasing number of savings banks during the recent years, their consolidated total assets has been steadily growing.

Total Assets of Savings Banks in Norway Number of Savings Banks in Norway Closed Savings Banks in Norway

List of Operating Savings Banks

There are currently 96 savings banks with total assets of 1,459,659.016 mln NOK and market share at the domestic market of 37.84 % (2018).

RankNameTotal AssetsOperating Income
1SpareBank 1 SR-Bank180891.00 2597.00
2SPAREBANK 1 SMN157720.05 2379.10
3SPAREBANK 1 ØSTLANDET122389.92 1721.70
4SPAREBANKEN VEST112914.84 1961.21
5SPAREBANK 1 NORD-NORGE103902.28 1694.96
6Sparebanken Sør89758.06 943.52
7SPAREBANKEN MØRE49940.46 721.24
8SPAREBANKEN SOGN OG FJORDANE40407.56 553.89
9SPAREBANK 1 BV36417.58 681.33
10SPAREBANKEN ØST29519.92 419.27
11HELGELAND SPAREBANK26854.02 164.64
12SPAREBANKEN TELEMARK24382.07 348.99
13SPAREBANK 1 RINGERIKE HADELAND23575.17 401.95
14SPAREBANK 1 ØSTFOLD AKERSHUS23251.37 464.55
15SANDNES SPAREBANK20169.88 252.38
16FANA SPAREBANK18002.75 197.02
17SPAREBANK 1 NORDVEST14365.59 160.77
18JÆREN SPAREBANK14032.66 156.93
19TOTENS SPAREBANK13799.65 262.10
20HAUGESUND SPAREBANK11127.26 114.44
21SPAREBANK 1 HALLINGDAL VALDRES10632.12 159.65
22AURSKOG SPAREBANK10357.40 120.89
23SKUE SPAREBANK9789.61 114.37
24SKAGERRAK SPAREBANK9714.05 78.23
25ORKLA SPAREBANK9610.03 89.66
26SPARESKILLINGSBANKEN9223.83 60.32
27SPAREBANK 1 SØRE SUNNMØRE9181.53 103.25
28SPAREBANK 1 MODUM9067.93 124.70
29SKUDENES & AAKRA SPAREBANK9045.82 104.28
30JERNBANEPERSONALETS SPAREBANK8808.53 77.30
31ASKIM & SPYDEBERG SPAREBANK8685.69 109.75
32MELHUS SPAREBANK8657.61 105.95
33SPAREBANK 1 GUDBRANDSDAL8206.69 123.06
34LILLESTRØM SPAREBANK8060.59 82.57
35FLEKKEFJORD SPAREBANK6815.16 62.53
36GRONG SPAREBANK6409.38 70.53
37SURNADAL SPAREBANK5961.89 66.13
38SPAREBANK 1 LOM OG SKJÅK5908.60 92.17
39HØLAND OG SETSKOG SPAREBANK5794.06 67.32
40SPAREBANKEN NARVIK5550.59 90.67
41RØROSBANKEN RØROS SPAREBANK5539.04 59.14
42EIDSBERG SPAREBANK5442.09 93.61
43ROMSDAL SPAREBANK5147.15 33.56
44SPAREBANKEN DIN5121.48 60.07
45Odal Sparebank5083.91 85.57
46LARVIKBANKEN - DIN PERSONLIGE SPAREBANK5049.13 48.97
47BIEN SPAREBANK ASA4583.93 41.00
48VOSS SPAREBANK4542.74 54.61
49MARKER SPAREBANK4525.34 67.96
50SØGNE OG GREIPSTAD SPAREBANK4291.65 37.77
51SELBU SPAREBANK4089.17 52.94
52SPAREBANK 68 GRADER NORD4071.49 53.73
53TOLGA-OS SPAREBANK3975.63 47.68
54SOGN SPAREBANK3741.21 24.03
55LUSTER SPAREBANK3664.82 41.59
56NIDAROS SPAREBANK3647.60 30.97
57AASEN SPAREBANK3620.89 46.11
58HJARTDAL OG GRANSHERAD SPAREBANK3550.46 32.86
59LILLESANDS SPAREBANK3431.18 29.40
60FORNEBU SPAREBANK3413.02 31.53
61ØRLAND SPAREBANK3390.85 40.01
62OPDALS SPAREBANK3387.48 38.06
63SUNNDAL SPAREBANK3379.87 35.29
64STADSBYGD SPAREBANK3377.62 34.48
65ANDEBU SPAREBANK3369.83 37.07
66DRANGEDAL SPAREBANK3308.85 36.93
67BERG SPAREBANK3256.74 44.80
68ARENDAL OG OMEGNS SPAREKASSE3197.86 33.98
69STRØMMEN SPAREBANK3181.54 43.27
70BJUGN SPAREBANK3152.45 32.43
71HEMNE SPAREBANK3097.86 29.14
72HØNEFOSS SPAREBANK3052.19 27.48
73TINN SPAREBANK3014.22 29.65
74TRØGSTAD SPAREBANK2982.92 40.51
75HJELMELAND SPAREBANK2923.95 31.76
76GRUE SPAREBANK2827.07 25.10
77KVINESDAL SPAREBANK2803.66 27.16
78ÅFJORD SPAREBANK2688.52 15.76
79HEGRA SPAREBANK2683.11 31.37
80OFOTEN SPAREBANK2649.14 25.95
81ØRSKOG SPAREBANK2579.09 25.38
82TYSNES SPAREBANK2538.10 31.26
83BLAKER SPAREBANK2525.48 19.92
84ØSTRE AGDER SPAREBANK2385.52 23.80
85EVJE OG HORNNES SPAREBANK2006.83 18.95
86ETNE SPAREBANK1983.45 14.07
87VALDRES SPAREBANK1925.84 14.49
88RINDAL SPAREBANK1889.58 16.98
89SOKNEDAL SPAREBANK1834.25 15.43
91Valle Sparebank1667.34 14.42
92HALTDALEN SPAREBANK1583.20 12.61
93BIRKENES SPAREBANK1531.43 14.82
94ETNEDAL SPAREBANK1425.51 13.43
97CULTURA SPAREBANK1066.37 7.04
98GILDESKÅL SPAREBANK615.82 3.18
99NÆRINGSBANKEN ASA546.04 -11.61
 

All the data are for 2018. Total assets and operating income are provided in million NOK.

Recently Closed Savings Banks

During 2013-2019 15 savings banks were closed down mainly due to mergers with other savings banks.

NameClosed On
AURLAND SPAREBANK2019
BAMBLE SPAREBANK2016
HOL SPAREBANK2013
KRAGERØ SPAREBANK2016
LOFOTEN SPAREBANK2019
MELDAL SPAREBANK2017
NESSET SPAREBANK2018
SELJORD SPAREBANK2013
SPAREBANK 1 NØTTERØY - TØNSBERG2017
SPAREBANKEN PLUSS2014
SPYDEBERG SPAREBANK2015
TIME SPAREBANK2015
VANG SPAREBANK2018
VEGÅRSHEI SPAREBANK2017
Vik Sparebank2019
 

See Also