 | |
 SpareBank 1 Modum | |
| Company type | Private |
|---|---|
| Industry | Banking,Insurance andPension |
| Founded | 1996 (1996) |
| Headquarters | Oslo,Norway |
Area served | Norway |
Key people | Turid Grotmoll (CEO) |
| Owner |
|
Number of employees | 6,300 (2010) |
| Website | www |
SpareBank 1 is aNorwegianalliance and brand name for a group ofsavings banks. The alliance is organised through the holding companySpareBank 1 Gruppen AS owned by the participating banks. In total the alliance is Norway's second largest bank with total assets ofNOK 625 billion, 352 branches and 6300 employees. The alliance has its head office inOslo, 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 themutual fund companyODIN Forvaltning, the life insurance companySpareBank 1 Livsforsikring, the insurance companySpareBank 1 Skadeforsikring, thecredit card companySpareBank 1 Medlemskort,SpareBank 1 Utvikling, the commercialbankBank 1 Oslo, the car finance companySpareBank 1 Bilplan (19.9%) and thesecurities companyFirst Securities (24.5%).
In 1996 the original members of the alliance, Sparebanken SMN, Sparebanken Nord-Norge, Sparebanken Rogaland andSparebanken Vest founded the alliance, at first (but never branded) asSparebankgruppen. The same year the company bought thelife insurance company DAVID Livsforsikring, now SpareBank 1 Livsforsikring, in addition to part of themutual fund companyODIN Forvaltning, now wholly owned by SpareBank 1. In 1997 the alliance of small savings banks Samarbeidende Sparebanker.
In 1998 theSwedish bankFöreningsSparbanken (nowSwedbank) purchased 24% of the company. The same year Sparebank 1 established acredit card company followed in 1999 with the establishment of thereal estate agentEiendomsMegler 1. The company also buys part ofFirst Securities.
The same year SpareBank 1 purchasedVÅR Bank from the labour union Landsorganisasjonen (LO). This bank was renamedBank 1 Oslo, with branches in Oslo andAkershus 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.
SpareBank 1 Gruppen is owned by the participating banks.SpareBank 1 Sør-Norge ASA (19.5%),SpareBank 1 Nord-Norge (19.5%),SpareBank 1 SMN (19.5%),SpareBank 1 Østlandet (12.4%) all own part of the company directly while the remaining banks own throughSamarbeidende Sparebanker AS (19.5%). Thelabor unionLO (9.6%) also has an ownership in the company.[1]
As of May 2025, Samarbeidende Sparebanker consists of:[2]
Other associates:
Sparebank 1 sponsors the NorwegianTippeligaen football teamViking F.K. The Sparebank 1 logo can be found on the back across the top of the shirt.
