Best banks in Norway

The best banks in Norway are:
  • Bank Norwegian AS
  • DNB Bank
  • Luster Sparebank
  • Storebrand Bank ASA
  • Sparebank 1 SMN.

This is an overview of the best banks in Norway.

Best banks in Norway

Banks in Norway comprise 17 commercial banks, 105 savings banks, and a small number of state-owned banks. The Financial Supervisory Authority of Norway oversees all financial institutions in the country. There are three types of banks in Norway:

Commercial banks (also known as business banks)
Savings banks
Branches of foreign banks

According to Moody’s, the outlook for Norway’s banking system is negative, as the rating agency expects declining oil investments and persistently low oil prices to adversely affect the domestic operating environment.

For anyone considering a career in banking in Norway, this list of top banks.

Bank Norwegian

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Bank Norwegian AS was founded in 2007 and is based in Lysaker. The bank provides various banking products and services to retail customers in Norway, Sweden, Denmark, and Finland. Bank Norwegian AS is a wholly-owned subsidiary of Norwegian Finans Holding ASA.

  • In 2016, the bank reported total assets of US$3.9 billion and a net income of US$123 million.
  • Headquarters: Fornebu, Norway 

DNB Bank

Established in 1898, DNB Bank is the largest of the banks in Norway, with 2.1 million personal customers and 183,000 corporate customers. Headquartered in Oslo, it employs more than 11,000 staff and holds a strong position in the energy sector, and in the fisheries and seafood industry.

  • As of 2016, the total assets of the bank were US$341 billion and net profit was US$2,474 million.
  • Headquarters: Oslo, Norway

Luster SparebankRelated image

Based in Gapune, Luster Sparebank was formed in 1975. It is the 57th largest of the savings banks in Norway (out of 104). The bank provides various banking products and services in the country and operates a branch at Hafslo.

  • In 2016, the bank’s total assets amounted to US$417 million and net profit reached US$5 million.
  • Headquarters: Øyagata 2, 6868 Gaupne, Norway
  • Phone:+47 57 68 27 00


Handelsbanken was established in 1986 and is based in Oslo. The bank provides a wide range of retail and corporate banking products and services to private individuals and business customers. It employs around 670 staff and manages 51 offices throughout the country. It is owned by Svenska Handelsbanken.

  • In 2016, the group reported total assets of US$330 billion and a total income of US$505 million.
  • HeadquartersStockholm, Sweden 

Storebrand Bank

Founded in 2006, Storebrand Bank is headquartered in Lysaker. The commercial bank provides a broad range of retail banking products and services to individuals and corporate customers. Storebrand Bank is the 7th largest of the commercial banks in Norway with a market share of 0.91%.

  • With around 2,000 employees, Storebrand is a publicly-traded company listed on the Oslo Stock Exchange. As of 2016, the bank’s total assets were US$2.6 billion and operating income was US$28 million.
  • Headquarters: Lysaker, Norway 

Sparebank 1 SMN

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Sparebank was formed in 1823 and is headquartered in Trondheim. It is the third-largest of the banks in Norway in terms of assets. It provides banking and financial products and services to individuals and corporate customers.

The bank employs around 1,100 staff and operates in 55 locations across 45 municipalities in both Trondelag counties, More and Romsdal, and Sogn and Fjordane. It is one of the six owners of the SpareBank 1 Alliance.

  • In 2016, the bank’s total assets amounted to US$17.5 billion and operating income reached US$250 million.
  • Headquarters: Trondheim, Norway 

The cover image is somewhere in Preikestolen, Forsand, Norway. Photo by Mario Klassen on Unsplash