Norwegian Savings Banks Association

Last updated November 17, 2019

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The Norwegian Savings Banks Association (Norwegian : Sparebankforeningen) is the trade organization for savings banks in Norway.

Norwegian is a North Germanic language spoken mainly in Norway, where it is the official language. Along with Swedish and Danish, Norwegian forms a dialect continuum of more or less mutually intelligible local and regional varieties; some Norwegian and Swedish dialects, in particular, are very close. These Scandinavian languages, together with Faroese and Icelandic as well as some extinct languages, constitute the North Germanic languages. Faroese and Icelandic are not mutually intelligible with Norwegian in their spoken form because continental Scandinavian has diverged from them. While the two Germanic languages with the greatest numbers of speakers, English and German, have close similarities with Norwegian, neither is mutually intelligible with it. Norwegian is a descendant of Old Norse, the common language of the Germanic peoples living in Scandinavia during the Viking Era.

A savings bank is a financial institution whose primary purpose is accepting savings deposits and paying interest on those deposits.

It was founded in 1914 as Centralforeningen for Norges Sparebanker. Director since 2002 is Arne Hyttnes.^[1] The board currently consists of Stein Hannevik (chair), Liv Fiksdahl, Helge Roar Dalen, Finn Haugan, Elisabeth Johansen, Hilde Kraggerud, Anlaug Johansen, Olav Arne Fiskerstrand and Ivar Fjærtoft.^[2]

Arne Hyttnes is a Norwegian banker.

Stein Andreas Hannevik is a Norwegian banker.

In 2010 it founded the cooperation organization Finance Norway together with the Norwegian Financial Services Association.^[3] Both organizations still exist, but not their respective "service offices", whose tasks were taken over by Finance Norway.^[4] The headquarters are in Oslo.

Finance Norway is the industry organisation for the financial industry in Norway. Finance Norway represents more than 200 financial companies with around 50,000 employees.

The Norwegian Financial Services Association is an employers' organisation in Norway.

Oslo is the capital and most populous city of Norway. It constitutes both a county and a municipality. Founded in the year 1040 as Ánslo, and established as a kaupstad or trading place in 1048 by Harald Hardrada, the city was elevated to a bishopric in 1070 and a capital under Haakon V of Norway around 1300. Personal unions with Denmark from 1397 to 1523 and again from 1536 to 1814 reduced its influence. After being destroyed by a fire in 1624, during the reign of King Christian IV, a new city was built closer to Akershus Fortress and named Christiania in the king's honour. It was established as a municipality (formannskapsdistrikt) on 1 January 1838. The city functioned as a co-official capital during the 1814 to 1905 Union between Sweden and Norway. In 1877, the city's name was respelled Kristiania in accordance with an official spelling reform – a change that was taken over by the municipal authorities only in 1897. In 1925 the city, after incorporating the village retaining its former name, was renamed Oslo.

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Aurskog Sparebank is a Norwegian savings bank, headquartered in Aurskog, Norway. The banks main market is the Romerike district of Akershus. The banks equity certificates was listed on Oslo Stock Exchange in 1998.

BankAxept is the national payment system in Norway, used both physically and eventually digitally. It is an open system, so that anyone that has concession to operate bank business in Norway can join the network. The security of BankAxept is accomplished with the use of chip technology and PIN codes. Payments of less than NOK 400 can be carried contactless and without use of a PIN code. Contactless payments are not as secure as chip and PIN. By using BankAxept, the money is charged from the cardholder's account immediately, and it is always verified whether or not there is money on the account.

References

↑ Henriksen, Petter, ed. (2007). "Sparebankforeningen". Store norske leksikon (in Norwegian). Oslo: Kunnskapsforlaget. Retrieved 18 April 2009.
↑ "Executive Board" (in Norwegian). Finance Norway. Archived from the original on 11 March 2012. Retrieved 20 November 2010.
↑ "About Finance Norway - FNO". Finance Norway. Archived from the original on 11 June 2011. Retrieved 20 November 2010.
↑ "Vedtekter for Finansnæringens Fellesorganisasjon (FNO)" (in Norwegian). Finance Norway. Archived from the original on 11 June 2011. Retrieved 20 November 2010.

External links

Official site

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[snl-1] Henriksen, Petter, ed. (2007). "Sparebankforeningen". Store norske leksikon (in Norwegian). Oslo: Kunnskapsforlaget. Retrieved 18 April 2009.

[2] "Executive Board" (in Norwegian). Finance Norway. Archived from the original on 11 March 2012. Retrieved 20 November 2010.

[about-3] "About Finance Norway - FNO". Finance Norway. Archived from the original on 11 June 2011. Retrieved 20 November 2010.

[4] "Vedtekter for Finansnæringens Fellesorganisasjon (FNO)" (in Norwegian). Finance Norway. Archived from the original on 11 June 2011. Retrieved 20 November 2010.