Top 10 Banks in Norway in 2025
Mesan Ali
Norway boasts a robust banking system characterized by a mix of large institutions and smaller local banks. The financial landscape is dominated by a few key players, with DNB Group leading the charge. Here, we explore the top 10 banks in Norway based on total assets, providing insights into their offerings and market positions.
Top 10 Banks in Norway
The banking sector in Norway is competitive and offers a variety of choices. Let's examine the top 10 banks to help you find the right one for your needs.
DNB Group
DNB Group stands tall as Norway’s largest bank, with total assets of US$327.06 billion and a market share of 54.43% in 2023. Offering an extensive range of financial services to both retail and corporate customers, its comprehensive portfolio includes loans, savings accounts, advisory services, insurance, and pension products. DNB has established itself as a reliable partner for its customers, emphasizing innovation and customer service. The bank is integral to the Norwegian economy, providing vital support to individuals and businesses alike.
SpareBank 1 SR Bank
SpareBank 1 SR Bank ranks as the second-largest bank in Norway, with total assets of US$35.10 billion and a market share of 5.36% in 2023. Focusing primarily on retail banking and insurance, the bank is committed to serving local communities and offers a variety of products including current accounts, payment cards, savings accounts, consumer loans, and mortgage loans. SpareBank 1 SR Bank is well-regarded for its customer-centric approach, ensuring that its services align with the needs of its clientele.
Handelsbanken Norway
A significant player in the Norwegian banking landscape, Handelsbanken Norway provides a wide array of financial services catering to both retail and corporate customers. With total assets of US$30.72 billion, the bank is known for its decentralized approach to banking, which allows local branches to make decisions tailored to their clients' needs. This model fosters strong customer relationships and ensures high levels of service quality.
Sparebanken Vest
Sparebanken Vest is a local savings bank, with total assets of US$26.74 billion and a market share of 3.51% in 2023, that focuses on providing financial services primarily to residents in its region. The bank offers essential products such as current accounts, payment cards, savings accounts, consumer loans, car loans, and mortgage loans. Its emphasis on community engagement and local service has solidified its reputation as a trusted financial partner for many individuals and businesses.
SpareBank 1 SMN
Another significant player in the savings bank sector, SpareBank 1 SMN offers a comprehensive range of financial products and services. With total assets of US$22.65 billion and a market share of 4.29% in 2023, the bank caters primarily to local residents and businesses, focusing on building long-term relationships with its customers. Its offerings include a mix of retail banking services, designed to meet the diverse financial needs of its community.
Santander Consumer Bank AS
Part of the larger Santander Group, Santander Consumer Bank AS specializes in retail banking services. With total assets of US$20.59 billion and a market share of 3.64% in 2023, the bank provides a variety of loans, savings products, and insurance solutions, tailored to meet the needs of individual consumers. With a strong emphasis on customer service and competitive rates, Santander Consumer Bank has carved out a significant niche within Norway’s banking sector.
SpareBank 1 Ostlandet
SpareBank 1 Ostlandet is dedicated to serving local communities through a variety of financial products and services. With total assets of US$17.40 billion and a market share of 3.28% in 2023, the bank offers essential banking solutions, including current accounts, payment cards, savings accounts, consumer loans, car loans, and mortgage loans. Its commitment to the local market and customer service has made it a popular choice among residents in its operating regions.
Sparebanken Sor
Serving the southern part of Norway, Sparebanken Sor is a local savings bank, with total assets of US$15.95 billion, that provides a range of financial services to both residents and businesses. Its offerings include current accounts, payment cards, savings accounts, consumer loans, car loans, and mortgage loans. The bank prides itself on being an integral part of its community, working closely with customers to understand their financial needs.
SpareBank 1 Nord Norge
Sparebank 1 Nord Norge focuses primarily on serving customers in northern Norway. With total assets of US$12.40 billion and a market share of 2.37% in 2023, the bank offers a wide range of retail banking and insurance products, tailored to meet the specific needs of local residents. With its commitment to community service and support, Sparebank 1 Nord Norge plays a crucial role in the economic development of the region.
Sbanken ASA
Sbanken ASA is a notable player in the Norwegian banking sector, with total assets of US$11.93 billion, recognized for its digital-first approach and user-friendly banking solutions. The bank offers a variety of financial services to both retail and corporate customers, including personal loans, savings accounts, and investment products. Its innovative technology and commitment to customer satisfaction have made it a popular choice among tech-savvy consumers.
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Conclusion
The banking sector in Norway is characterized by a mix of large institutions and local savings banks, each playing a vital role in the economy. DNB Group leads the way, holding a substantial market share and offering a comprehensive range of financial services. The other banks, while smaller in terms of assets, provide essential services to their respective communities, ensuring that all Norwegians have access to the financial tools they need. The Financial Supervisory Authority of Norway oversees this stable and secure financial environment, fostering confidence in the banking system. As the industry evolves, the emphasis on customer service and technological innovation will continue to shape the future of banking in Norway.