SpareBank 1 is a Norwegianalliance and brand name for a group of savings banks. The alliance is organised through the holding companySpareBank 1 Gruppen AS that is owned by the participating banks. In total the alliance is Norway's second largest bank with total assets of NOK 625 billion, 352 branches and 6300 employees. The alliance has its head office in Oslo, Norway. The banks in the SpareBank 1 Alliance distribute SpareBank 1 groups' products and collaborate in key areas such as brands, work processes, expertise development, IT operations and system development. Companies in the group include the mutual fund company ODIN Forvaltning, the life insurance companySpareBank 1 Livsforsikring, the insurance company SpareBank 1 Skadeforsikring, the credit card companySpareBank 1 Medlemskort, SpareBank 1 Utvikling, the commercial bankBank 1Oslo, the car finance companySpareBank 1 Bilplan and the securities company First Securities.
History
In 1996 the original members of the alliance, Sparebanken SMN, Sparebanken Nord-Norge, Sparebanken Rogaland and Sparebanken Vest founded the alliance, at first as Sparebankgruppen. The same year the company bought the life insurance company DAVID Livsforsikring, now SpareBank 1 Livsforsikring, in addition to part of the mutual fund company ODIN Forvaltning, now wholly owned by SpareBank 1. In 1997 the alliance of small savings banks Samarbeidende Sparebanker. In 1998 the SwedishbankFöreningsSparbanken purchased 24% of the company. The same year Sparebank 1 established a credit card company followed in 1999 with the establishment of the real estate agentEiendomsMegler 1. The company also buys part of First Securities. The same year SpareBank 1 purchased VÅR Bank from the labour unionLandsorganisasjonen. This bank was renamed Bank 1 Oslo, with branches in Oslo and Akershus while other branches of the bank were taken over by other alliance members. LO acquired at the same time 10% of the stocks in SpareBank 1. In 2003 the first major member of the alliance leaves when Sparebanken Vest sells its shares. In 2006 Sparebanken Hedmark entered the group, while FöreningsSparbanken sold its shares.
Member banks
SpareBank 1 Gruppen is owned by the participating banks. Sparebanken Hedmark, SpareBank 1 SMN, SpareBank Nord-Norge and SpareBank 1 SR-Bank all own part of the company directly while the remaining banks own through Samarbeidende Sparebanker. The labor union Landsorganisasjonen also has an ownership in the company. Samarbeidende Sparebanker consists of:
SpareBank 1 Buskerud-Vestfold
SpareBank 1 Østfold Akershus
SpareBank 1 Hallingdal
SpareBank 1 Gudbrandsdal
SpareBank 1 Ringerike Hadeland
SpareBank 1 Nordvest
SpareBank 1 Nøtterøy–Tønsberg
SpareBank 1 Telemark
SpareBank 1 Lom og Skjå
SpareBank 1 Modum
SpareBank 1 Søre Sunnmøre
Other associates:
Rygge-Vaaler Sparebank
BNbank
Sponsorships
Sparebank 1 sponsors the Norwegian Tippeligaenfootball team Viking F.K. The Sparebank 1 logo can be found on the back across the top of the shirt.