SpareBank 1 Banks Acquire Glitnir Bank ASA
Sparebank 1 banks have acquired all shares in Glitnir Bank ASA at a price of NOK 300m. For the time being, the bank will keep its current structure and have its headquarters in Trondheim. The new owners of Glitnir Bank ASA are SpareBank 1 SMN (25%), SpareBank 1 SR-Bank (20%), SpareBank 1 Nord-Norge (20%), 16 other co-operating savings banks (20%) and Sparebanken Hedmark (15%). These banks also own the SpareBank 1 Group. Glitnir Bank has business units in Trondheim, Oslo, Ålesund and Fosnavåg. The bank has 160 employees and a total loan portfolio of NOK47bn. The subsidiary Glitnir Factoring with 26 employees is also included in the transaction.