Sparebanken Norge

Sparebanken Norge is a Norwegian savings-bank and financial-services group created on 2 May 2025 through the merger of Sparebanken Vest and Sparebanken Sør. The combination brought together two established regional institutions and created one of Norway's largest savings banks by assets, lending and branch presence. The group's headquarters are jointly located in Bergen and Kristiansand, reflecting the geographic origins and continuing importance of both predecessor organizations. The bank's roots extend back through the local savings-bank system that developed across southern and western Norway. Among the predecessor institutions was Bergens Sparebank, established in 1823. Over time, both Sparebanken Vest and Sparebanken Sør grew through the consolidation of smaller local savings banks. Before the merger, Sparebanken Vest was headquartered in Bergen and served customers across areas including Møre og Romsdal, Vestland and Rogaland, while Sparebanken Sør was based in Kristiansand and concentrated primarily on Agder and surrounding markets. The merger negotiations took place during the first part of 2024 and were publicly announced on 28 August 2024. Under the transaction structure, equity holders of Sparebanken Vest received 64.3 percent of the equity in the combined institution, while equity holders of Sparebanken Sør received 35.7 percent. At the time of the announcement, the two banks together had approximately NOK 517 billion in assets under management and NOK 429 billion in gross loans. This scale positioned the resulting institution as the largest savings bank in Norway by assets under management among savings banks. Sparebanken Norge operates as a broad financial-services provider rather than as a narrowly focused deposit institution. Its activities are associated with ordinary savings-bank services, including deposits, residential and other lending, financial advice, and banking services for personal and business customers. The group also maintains a physical branch network while integrating digital and regional banking operations inherited from its predecessors. By October 2025, the bank was reported to have 69 branches and to be the largest savings bank in Norway. The organization's current strategic challenge is the integration of the two predecessor banks. Merger-related restructuring has included changes to office locations, staffing and organizational arrangements. In October 2025, Sparebanken Norge announced that 60 employees would move from Arendal to the head office in Kristiansand. In December 2025, the bank reported that many employees had accepted severance packages following the merger, and in June 2026 it announced further staffing reductions during that calendar year. These measures indicate an effort to realize operational efficiencies while establishing a unified national savings-bank platform. As of June 2026, Jan Erik Kjerpeseth was identified as the group's chief executive officer. The bank remains focused on serving Norwegian retail, household and business customers, with its dual headquarters and predecessor-bank heritage giving it a strong regional foundation alongside its expanded national scale.

Sparebanken Norge was established on 2 May 2025 through the merger of Sparebanken Vest and Sparebanken Sør. The transaction joined two regional Norwegian savings banks that had themselves developed through the consolidation of smaller local institutions. Their combined history therefore reflects the long-standing Norwegian savings-bank model, in which locally rooted banks gathered deposits, financed households and businesses, and supported economic activity in their surrounding communities. The oldest institutional predecessor identified in the group's history was Bergens Sparebank, founded in 1823. That bank formed part of the historical development of savings banking in Bergen and western Norway. Sparebanken Vest later became a major regional institution based in Bergen, with operations extending through Møre og Romsdal, Vestland and Rogaland. Sparebanken Sør, headquartered in Kristiansand, developed a corresponding regional position in Agder and nearby areas. Both organizations expanded over time through mergers involving smaller local savings banks. Before their combination, Sparebanken Vest ranked as Norway's third-largest savings bank and Sparebanken Sør as the fifth-largest. Merger discussions continued through early 2024, and the agreement was announced on 28 August that year. The deal allocated 64.3 percent of the new equity to holders of Sparebanken Vest and 35.7 percent to holders of Sparebanken Sør. The banks reported combined assets under management of approximately NOK 517 billion and gross loans of NOK 429 billion at the time of announcement. The resulting institution consequently became the largest savings bank in Norway by assets under management among savings banks. The merger was completed in 2025, with Sparebanken Norge retaining a dual-headquarters structure in Bergen and Kristiansand. This arrangement recognized the importance of both predecessor centers while creating a larger group with a broader geographic footprint. The bank combined the predecessor institutions' regional customer bases, branches, employees, lending portfolios and operating systems. By October 2025, it was reported to have 69 branches, making it a significant physical banking network as well as a digital financial-services provider. The early history of the new group has been dominated by integration and restructuring. In October 2025, the bank announced that 60 employees would move from Arendal to the head office in Kristiansand. In December of the same year, it stated that many employees had accepted severance packages. In June 2026, the organization announced additional staffing reductions for that calendar year. These steps were presented in the context of merger integration and organizational efficiency rather than as a separate change in the bank's core business. Sparebanken Norge's business scope includes savings and transaction accounts, mortgages, personal lending, business banking, commercial lending, payments and financial advice. Its positioning combines the community orientation traditionally associated with Norwegian savings banks with the balance-sheet scale and geographic reach of a larger financial group. As of June 2026, Jan Erik Kjerpeseth was identified as chief executive officer. The group's development remains closely linked to the challenge of creating one operating model from two established regional banks while preserving customer relationships in western and southern Norway.

• 2026

  Further workforce reduction announced

  [1]Sparebanken Norgeen.wikipedia.org

  The bank announces additional staffing reductions during 2026 as integration continues.

• 2025

  Sparebanken Norge is formed

  [1]Sparebanken Norgeen.wikipedia.org

  The merger is completed on 2 May 2025, creating the Sparebanken Norge group.

• 2025

  Post-merger restructuring begins

  [1]Sparebanken Norgeen.wikipedia.org

  The group announces the relocation of 60 employees from Arendal to its Kristiansand head office and later reports widespread acceptance of severance packages.

• 2024

  Merger agreement announced

  [1]Sparebanken Norgeen.wikipedia.org

  Sparebanken Vest and Sparebanken Sør announce their plan to merge after negotiations conducted during the first part of the year.

• 1823

  Bergens Sparebank is established

  [1]Sparebanken Norgeen.wikipedia.org

  Bergens Sparebank, one of the historical predecessor institutions in the group's lineage, is established in Bergen.

A large Norwegian savings-bank group combining regional roots, local customer relationships and nationwide scale after the merger of Sparebanken Vest and Sparebanken Sør.

• Retail banking

  Personal banking

  Services for individual customers, including everyday accounts, payments, savings, personal financial advice and access to borrowing products. The offering inherits the consumer-banking activities of Sparebanken Vest and Sparebanken Sør and is delivered through a combination of branches and digital channels.

• Lending

  Residential mortgages

  Home lending is a central savings-bank activity within Sparebanken Norge's personal-banking business. The group serves Norwegian households with residential financing as part of its broader deposit, lending and advisory relationship.

• Commercial banking

  Business banking

  Banking and financing services for Norwegian businesses and other commercial customers, including deposits, payments, lending and financial advice. The business portfolio reflects the predecessor banks' regional relationships with companies and local economies.

• Deposits

  Savings and deposits

  Deposit and savings accounts form part of the group's core savings-bank proposition. They support ordinary household and business cash management while providing a funding base for the bank's lending activities.

• 2025

  Consolidate post-merger operationsStrategy

  Background

  The new group began integrating the organizations, offices and workforces of Sparebanken Vest and Sparebanken Sør.

  Action taken

  Sparebanken Norge moved 60 employees from Arendal to its Kristiansand head office and introduced severance arrangements for employees affected by the restructuring.

  Aftermath

  The bank continued restructuring and announced further staffing reductions for 2026.

  Source

• 2024

  Proceed with the merger of Sparebanken Vest and Sparebanken SørM&A

  Background

  The two regional savings banks were seeking to combine their operations and create a larger institution. At announcement, they together represented approximately NOK 517 billion in assets under management and NOK 429 billion in gross loans.

  Action taken

  The banks announced a merger with equity allocation of 64.3 percent to Sparebanken Vest holders and 35.7 percent to Sparebanken Sør holders.

  Aftermath

  The transaction was completed on 2 May 2025 and established Sparebanken Norge.

  Combined assets under management and gross loans at merger announcement. NOK 517 billion assets under management; NOK 429 billion gross loans (2024 merger announcement)

  Source

1. 1Sparebanken Norgeen.wikipedia.org