SpareBank 1 SMN is a Norwegian

savings bank A savings bank is a financial institution whose primary purpose is accepting savings deposits and paying interest on those deposits. They originated in Europe during the 18th century with the aim of providing access to savings products to ...

based in

Trøndelag Trøndelag (; sma, Trööndelage) is a county in the central part of Norway. It was created in 1687, then named Trondhjem County ( no, Trondhjems Amt); in 1804 the county was split into Nord-Trøndelag and Sør-Trøndelag by the King of Denmar ...

. The bank has 71 branches in 51

municipalities A municipality is usually a single administrative division having corporate status and powers of self-government or jurisdiction as granted by national and regional laws to which it is subordinate. The term ''municipality'' may also mean the ...

in Central Norway and is part of the bank

alliance An alliance is a relationship among people, groups, or states that have joined together for mutual benefit or to achieve some common purpose, whether or not explicit agreement has been worked out among them. Members of an alliance are called ...

SpareBank 1 SpareBank 1 is a Norwegian alliance and brand name for a group of savings banks. The alliance is organised through the holding company ''SpareBank 1 Gruppen AS'' owned by the participating banks. In total the alliance is Norway's second largest ...

. In

Nord-Trøndelag Nord-Trøndelag (; "North Trøndelag") was a county constituting the northern part of the present-day Trøndelag county in Norway. The county was established in 1804 when the old Trondhjems amt was divided into two: Nordre Trondhjems amt and S ...

and

Sør-Trøndelag Sør-Trøndelag () was a county comprising the southern portion of the present-day Trøndelag county in Norway. It bordered the old Nord-Trøndelag county as well as the counties of Møre og Romsdal, Oppland, and Hedmark. To the west is the No ...

the bank is branded SpareBank 1 Midt-Norge while it is branded SpareBank 1 Romsdals Fellesbank in

Møre og Romsdal Møre og Romsdal (; en, Møre and Romsdal) is a county in the northernmost part of Western Norway. It borders the counties of Trøndelag, Innlandet, and Vestland. The county administration is located in the town of Molde, while Ålesund is t ...

but in April 2008 the bank changed its name to Sparebank 1 SMN. The company has its head office in

Trondheim Trondheim ( , , ; sma, Tråante), historically Kaupangen, Nidaros and Trondhjem (), is a city and municipality in Trøndelag county, Norway. As of 2020, it had a population of 205,332, was the third most populous municipality in Norway, an ...

. The CEO is Finn Haugan. The bank has total assets of NOK 46 billion, making it the 9th largest bank in Norway. In Trøndelag the bank has a market share of 38% while it has a 28% marked share in

Romsdal Romsdal is a Districts of Norway, traditional district in the Norwegian county Møre og Romsdal, located between Nordmøre and Sunnmøre. The district of Romsdal comprises Aukra, Fræna, Midsund, Molde, Nesset, Rauma, Norway, Rauma, Sandøy, and V ...

. The bank serves both private customers in addition to agricultural, small and medium-sized businesses in addition to the public sector.

History

The bank has roots to Trondhjems Sparebank which was founded to 1823. Sparebanken Midt-Norge was created in 1984 when 23 savings banks in Trøndelag

merged Mergers and acquisitions (M&A) are business transactions in which the ownership of companies, other business organizations, or their operating units are transferred to or consolidated with another company or business organization. As an aspect ...

to create a regional savings bank. In 1988 Spareskillingsbanken was also merged into the bank. The bank created grunnfondsbevis in 1994 and listed itself on

Oslo Stock Exchange Oslo Stock Exchange ( no, Oslo Børs) (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, deriv ...

. In 1996 it was one of the founding banks of the alliance

, where it today holds a 19.5% ownership. In 2005 it bought the commercial bank Romsdals Fellesbank. The Norwegian subsidiary of

Iceland Iceland ( is, Ísland; ) is a Nordic island country in the North Atlantic Ocean and in the Arctic Ocean. Iceland is the most sparsely populated country in Europe. Iceland's capital and largest city is Reykjavík, which (along with its ...

’s

Glitnir Bank Glitnir was an international Icelandic bank. It was created by the state-directed merger of the country's three privately held banks - ''Alþýðubanki'' (Union Bank), ''Verzlunarbanki'' (Bank of Commerce) and ''Iðnaðarbanki'' (Industrial Bank ...

, Glitnir Bank ASA in Norway, was sold for NOK 300 million on October 21, 2008, or ISK 5.5 billion, but its current worth is estimated at ISK 36.5 billion . Glitnir ASA was bought by 20 savings banks. The takeover was led by Finn Haugan, the managing director of Sparebank 1 SMN which acquired a 25-percent stake in the bank.Glitnir ASA in Norway Sold under Value (Iceland Review Online)
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Awards

In collaboration with the

Royal Norwegian Society of Sciences and Letters The Royal Norwegian Society of Sciences and Letters ( da, Det Kongelige Norske Videnskabers Selskab, DKNVS) is a Norwegian learned society based in Trondheim. It was founded in 1760 and is Norway's oldest scientific and scholarly institution. The ...

, the bank awards the biannual

Gunnerus Sustainability Award The Gunnerus Sustainability Award is an international research award, conferred every other year by the Royal Norwegian Society of Sciences and Letters (DKNVS) and the Norwegian University of Science and Technology (NTNU). Its full name is The Gun ...

References

External links

Corporate web site
{{Coord, 63, 25, 54, N, 10, 23, 59, E, region:NO, display=title Banks of Norway Companies based in Trondheim Banks established in 1823 Companies listed on the Oslo Stock Exchange