Nordlandsbanken

Nordlandsbanken ASA

Type	Subsidiary
Industry	Banking
Founded	1893
Headquarters	Bodø, Norway
Area served	Nordland, Norway
Key people	Morten Støver (CEO)
Employees	280 (2006)
Parent	DnB NOR
Website	www.nordlandsbanken.no

Head office of Nordlandsbanken in Bodø

Nordlandsbanken is a Norwegian bank serving the County of Nordland. Nordlandsbanken is a wholly owned subsidiary of DnB NOR who bought the bank in 2003. It has total assets of NOK 22 billion and headquarters in Bodø. The bank has 17 branches.

History

Nordlands Privatbank was established on 1 July 1893, as the first commercial bank in Northern Norway. The bank expanded with a cooperations with other banks established Ofotens Bank in Narvik in 1899. Later branches were established in Svolvær (1910) and Sortland (1918). The boom and bust during World War I and the following economic crisis struck the bank hard, and in 1923 the bank was put under public administration, and reemerged as a new bank in 1928. After 1945, the Government lay pressure on small banks to merge.

Nordlandsbanken was created as a merger between Fauske Bank, Søndre Helgelands Kreditbank, Helgelands Fiskeri- og Handelsbank and Nordlands Privatbank. Until DnB NOR bought the bank in 2003, it was listed on the Oslo Stock Exchange. After the takeover all of Nordlandsbanken's operations outside Nordland, in Oslo and Tromsø, were taken over by DnB NOR, though DnB NOR retained its branch in Bodø. Part of the reason DnB NOR bought Nordlandsbanken was the economic crisis Nordlandsbanken found itself in, having lost NOK 450 million to Finance Credit-system.

External links

• Nordlandsbanken web site (Norwegian)
• DnB NOR corporate web site