Banks in Norway are mainly focusedon the following areas:
Financial Supervisory Authority of Norway
Currently there are 140 credit institutions operating in Norway.
In 2020 consolidated banking assets in Norway were 4,420.85 bln NOK. The consolidated banking assets' evolution is shown at Chart 1 below.
Chart 1. Consolidated banking assets in Norway.
Recent structural changes (2013 - 2022) of the banking sector of Norway are summarised in Table 1.
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | |
| Opened Banks | 2 | 2 | 3 | 3 | 8 | 6 | 0 | 2 | 3 | 0 |
| Closed Banks | 3 | 2 | 3 | 5 | 5 | 6 | 9 | 5 | 11 | 4 |
| Change | -1 | 0 | 0 | -2 | +3 | 0 | -9 | -3 | -8 | -4 |
Table 1. Recent structural changes in the banking sector of Norway.
The list of the most recently opened banks in Norway is provided in Table 2.
| Name | Start Date |
|---|---|
 | December 2021 |
 | August 2021 |
 | May 2021 |
 | December 2020 |
 | June 2020 |
 | September 2018 |
 | August 2018 |
 | June 2018 |
 | May 2018 |
 | March 2018 |
Table 2. The most recently opened banks in Norway.
All the credit institutions operating in Norway can be classified into several categories. Table 3 summarises the number of banks in each category.
| Category | Number of Banks |
|---|---|
| Branches of foreign banks | 31 |
| Central banks | 1 |
| Commercial banks | 22 |
| Savings banks | 86 |
Table 3. Number of banks by category in Norway.
There are 28 branches of foreign banks from 7 different countries in Norway. Table 4 shows the number of branches grouped by the country of origin.
| Country of Origin | Number of Branches |
|---|---|
 Sweden | 18 |
 Denmark | 3 |
 Germany | 2 |
 Ireland | 2 |
 France | 1 |
 Luxembourg | 1 |
 Netherlands | 1 |
Table 4. Number of branches of foreign banks in Norway grouped by country of origin.
Deposit guarantee scheme is a financial stability mechanism implemented in many countries to protect bank depositors against the loss of their deposits in the case when a bank is unable to meet its obligations to depositors by compensating certain deposits held by depositors of the bank. This compensation is paid out from the contributions which banks have made into a deposit guarantee fund.
From a depositor's point of view it is important to know:
All these details about deposit guarantee scheme in Norway are summarised in Table 5.
Table 5. Deposit guarantee scheme in Norway.
EEA stands for European Economic Area and consists of all EU member states plus Liechtenstein, Norway and Iceland.
In Norway there is one deposit guarantee fund, namely Norwegian Banks' Guarantee Fund (NBGF).
Moody's country ceilings for deposits specify the highest rating that can be assigned to local- or foreign- currency denominated deposit obligations of a bank or other deposit taking institution domiciled within that country.
Local currency (Norwegian krone) deposit ceiling for Norway is set to Aaa (prime), foreign currency deposit ceiling is Aaa (prime).
