CULTURA SPAREBANK

CULTURA SPAREBANK is a local savings bank, focused on retail banking and insurance products and services to local residends: private individuals, SMEs and companies. The range of products offered by CULTURA SPAREBANK includes current accounts, payment cards, savings accounts, consumer loans, car loans and mortgage loans.

Bank Category

Savings banks

Services

Retail Banking
Insurance

Financials

Total Assets (2016)
836.69 mln NOK  (+10.75%)
Operating Income (2016)
6.66 mln NOK  (+185.64%)

CULTURA SPAREBANK is the 119th largest bank in Norway in terms of total assets. In 2016 its total assets were 836,69 mln NOK, providing the bank with the market share of 0.02%. CULTURA SPAREBANK is the 102nd largest savings bank in Norway (out of 104 savings banks) having market share of 0.07% amongst the banks of this category. In 2016 the bank's operating income was 6,66 mln NOK.

Deposit Guarantee

2 000 000 NOK

CULTURA SPAREBANK participates in deposit guarantee scheme of Norway. This scheme covers accounts up to 2 000 000 NOK per bank per depositor.

Contacts

Holbergs gate 1, 0166, OSLO, Norway

CULTURA SPAREBANK is located in OSLO.

Bank Identifiers

Company Number
977041244
Start Date
01 January 2006

Business Summary

Services
retail banking
insurance
Products
current accounts
credit cards
debit cards
savings accounts
time deposit accounts
consumer loans
car loans
mortgage loans
Area Served
local municipality
Eligible Clients
private individuals
SMEs
companies

CULTURA SPAREBANK provides products and services in the areas of retail banking, insurance. The range of products offered by CULTURA SPAREBANK includes current accounts, credit cards, debit cards, savings accounts, time deposit accounts, consumer loans, car loans, mortgage loans. CULTURA SPAREBANK makes its solutions available to private individuals, SMEs, companies.

Financial Positions

Total Assets (2016)
836.69 mln NOK  (+10.75%)
Total Equity (2016)
76.52 mln NOK  (+17.95%)

In 2016 total assets of CULTURA SPAREBANK were 836.69 mln NOK. Growth compared to the previous period (2015) was 10.75%. The evolution of the total assets of CULTURA SPAREBANK is shown at Chart 1 below.

Total Assets of CULTURA SPAREBANK.

Chart 1. Total Assets of CULTURA SPAREBANK.

Recent changes in total assets of CULTURA SPAREBANK and its main components are shown in Table 1.

2015 2016 % change
Cash and deposits with Central Banks 67.2 60.1 -10.60%
Loans to banks 57.6 38.7 -32.79%
Loans to customers 459.7 510.7 +11.09%
Total Assets 755.5 836.7 +10.75%
Table 1. Recent changes in total assets of CULTURA SPAREBANK (mln NOK).

Recent changes in total liabilities of CULTURA SPAREBANK and its main components are shown in Table 2.

2015 2016 % change
Bank deposits 0.0 0.0 +8.33%
Customer deposits 671.2 737.3 +9.85%
Total Liabilities 755.5 836.7 +10.75%
Table 2. Recent changes in total liabilities of CULTURA SPAREBANK (mln NOK).

Profit and Loss

Operating Income (2016)
6.66 mln NOK  (+185.64%)
Annual Profit (2016)
5.53 mln NOK  (+239.23%)

Recent changes in gross profit of CULTURA SPAREBANK and its main components are shown in Table 3.

2015 2016 % change
Interest Income 25.9 22.6 -12.71%
Interest Charges -5.7 -3.8 -33.59%
Net Interest Income 20.2 18.9 -6.87%
Commission Income 6.2 7.0 +12.67%
Commission Charges -2.2 -2.2 +0.51%
Table 3. Recent changes in gross profit of CULTURA SPAREBANK (mln NOK).

In 2016 annual profit of CULTURA SPAREBANK was 5.53 mln NOK. Growth compared to the previous period (2015) was 239.23%. The evolution of the annual profit of CULTURA SPAREBANK is shown at Chart 2 below.

Annual Profit of CULTURA SPAREBANK.

Chart 2. Annual Profit of CULTURA SPAREBANK.

Market Share and Rank (among banks in Norway)

Total Assets (2016)
119th (market share 0.02%)

In 2016 CULTURA SPAREBANK was ranked the 119th largest bank in Norway in terms of total assets, having 0.02% of the domestic market share.

Market share of CULTURA SPAREBANK (among banks in Norway)

Chart 3. Market share of CULTURA SPAREBANK (among banks in Norway)

Several banks having the market shares and ranks closest to CULTURA SPAREBANK are shown below.

RankNameTotal AssetsMarket Share
118VALDRES SPAREBANK886.55 mln NOK0.02%
119 CULTURA SPAREBANK836.69 mln NOK0.02%
120 VANG SPAREBANK (closed)729.58 mln NOK0.02%
 

Market Share and Rank (among Savings banks in Norway)

Total Assets (2016)
102nd (market share 0.07%)

In 2016 CULTURA SPAREBANK was ranked the 102nd largest savings bank in Norway in terms of total assets, having 0.07% of the category's market share.

Market share of CULTURA SPAREBANK (among Savings banks in Norway)

Chart 4. Market share of CULTURA SPAREBANK (among Savings banks in Norway)

Several savings banks having the market shares and ranks closest to CULTURA SPAREBANK are shown below.

RankNameTotal AssetsMarket Share
101VALDRES SPAREBANK886.55 mln NOK0.07%
102 CULTURA SPAREBANK836.69 mln NOK0.07%
103 VANG SPAREBANK (closed)729.58 mln NOK0.06%
 

Deposit Guarantee

Deposit Guarantee
Yes (up to 2 000 000 NOK per depositor)

Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.

All credit institutions operating in Norway are obliged to participate in Norwegian deposit guarantee scheme.

In the case of CULTURA SPAREBANK failure, eligible depositors having covered accounts in this bank will be paid out the following compensation:

Eligible Depositors  natural persons, legal entities
Covered Accounts  any credit balance on a named account, and any debt evidenced by a certificate of deposit issued to a named person
Maximum Protected Amount  2 000 000 NOK
Paid In Currency  NOK

Further Information

Company Registration Number

Company Registration Number is a distinctive code issued upon registration of a new company. This code can be used to find data about the company in a national company register.

Company Number  977041244