Nordlandsbanken was a Norwegian

bank A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital m ...

serving the County of Nordland. Nordlandsbanken was at the end a wholly owned

subsidiary A subsidiary, subsidiary company, or daughter company is a company (law), company completely or partially owned or controlled by another company, called the parent company or holding company, which has legal and financial control over the subsidia ...

DnB NOR DNB Bank ASA (formerly DnB NOR ASA) is Norway's largest financial services group, with total combined assets of more than NOK 3.6 trillion and a market capitalisation NOK 400 billion as of 2024. DNB's head office is located in Oslo. The two larg ...

who bought the bank in 2003. It had total assets of

NOK Nok is a village in Jaba, Nigeria, Jaba Local Government Area of Kaduna State, Nigeria. The village is an archeological site. Archaeology The discovery of terracotta figurines at this location caused its name to be used for the Nok culture, ...

22 billion and

headquarter Headquarters (often referred to as HQ) notes the location where most or all of the important functions of an organization are coordinated. The term is used in a wide variety of situations, including private sector corporations, non-profits, mil ...

s in Bodø. The bank had 17

branches A branch, also called a ramus in botany, is a stem that grows off from another stem, or when structures like veins in leaves are divided into smaller veins. History and etymology In Old English, there are numerous words for branch, includi ...

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 () is the third-largest List of municipalities of Norway, municipality in Nordland Counties of Norway, county, Norway, by population. The administrative centre of the municipality is the Narvik (town), town of Narvik. Some of the notable villag ...

in 1899. Later branches were established in

Svolvær (Norwegian language, Norwegian, ), , or is a List of towns and cities in Norway, town and the administrative centre of Vågan Municipality in Nordland County, Norway. It is located on the island of Austvågøya in the Lofoten archipelago, alon ...

(1910) and

Sortland Sortland may refer to: Places *Sortland Municipality, a municipality in Nordland county, Norway *Sortland (town), a town within Sortland Municipality in Nordland county, Norway *Sortland Church, a church in the town of Sortland in Sortland Municipa ...

(1918). The

boom and bust Business cycles are intervals of general expansion followed by recession in economic performance. The changes in economic activity that characterize business cycles have important implications for the welfare of the general population, governmen ...

during

World War I World War I or the First World War (28 July 1914 – 11 November 1918), also known as the Great War, was a World war, global conflict between two coalitions: the Allies of World War I, Allies (or Entente) and the Central Powers. Fighting to ...

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 A government is the system or group of people governing an organized community, generally a State (polity), state. In the case of its broad associative definition, government normally consists of legislature, executive (government), execu ...

lay pressure on small banks to merge. Nordlandsbanken was created as a merger between

Fauske Bank Fauske may refer to: Places *Fauske Municipality, a municipality in Nordland county, Norway *Fauske (town), a town within Fauske Municipality in Nordland county, Norway *Fauske Church, a church in Fauske Municipality in Nordland county, Norway Peo ...

, 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 Oslo Stock Exchange () (OSE: OSLO) is a stock exchange within the Nordic countries and offers Norway's only regulated markets for securities trading today. The stock exchange offers a full product range including equities, derivatives and fixed ...

. After the takeover all of Nordlandsbanken's operations outside Nordland, in

Oslo Oslo ( or ; ) is the capital and most populous city of Norway. It constitutes both a county and a municipality. The municipality of Oslo had a population of in 2022, while the city's greater urban area had a population of 1,064,235 in 2022 ...

and

Tromsø Tromsø is a List of towns and cities in Norway, city in Tromsø Municipality in Troms county, Norway. The city is the administrative centre of the municipality as well as the administrative centre of Troms county. The city is located on the is ...

, 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

DnB NOR corporate web site
{{Authority control Banks of Norway DNB ASA Companies based in Bodø Companies formerly listed on the Oslo Stock Exchange Banks established in 1893 Norwegian companies established in 1893