The SpareBank 1 Alliance
The SpareBank 1 Alliance consists of 12 independent savings banks, who cooperate on branding and providing a joint platform. SpareBank 1 is Norway’s second largest finance group in terms of assets.
The alliance was created in 1996 to strengthen each local bank’s competitiveness, profitability and solvency, as well as to ensure each bank’s future independence and regional ties.
Which banks are in the SpareBank 1 Alliance?
| SpareBank 1 Gudbrandsdal SpareBank 1 Hallingdal Valdres SpareBank 1 Helgeland SpareBank 1 Lom og Skjåk |
SpareBank 1 Nordmøre SpareBank 1 Ringerike Hadeland SpareBank 1 SMN SpareBank 1 Nord-Norge |
SpareBank 1 SR-Bank SpareBank 1 Sørøst-Norge SpareBank 1 Østfold Akershus SpareBank 1 Østlandet |
Organisation of the collaboration
The collaboration is organised through the jointly owned companies SpareBank 1 Gruppen AS and SpareBank 1 Utvikling DA with their subsidiaries, in addition to several other directly owned companies of the SpareBank 1 banks.
SpareBank 1 Gruppen AS
SpareBank 1 Gruppen AS is the parent company to 5 subsidiary companies, which all develop and supply products to banks in the alliance, which in turns offer these to customers in their local markets. The company also develops and supplies products to LO and its associations through its loyalty scheme LOfavør.
Owners
SpareBank 1 Nord-Norge (19.5 %)
SpareBank 1 SMN (19.5 %)
SpareBank 1 SR-Bank ASA (19.5 %)
Samarbeidende Sparebanker AS (19.5 %)
SpareBank 1 Østlandet (12.4 %)
LO and its associations (9.6 %)
Subsidiary companies
SpareBank 1 Forsikring AS – life insurance
Fremtind Forsikring AS
SpareBank 1 Factoring AS
Kredinor AS (50%)
SpareBank 1 Spleis AS
SpareBank 1 Utvikling DA
SpareBank 1 Utvikling DA supplies business platforms and joint management and development services to alliance banks, and helps to ensure that joint development and activities provide the banks with economies of scale and competitive advantages.The company also owns and manages the alliance’s intellectual property rights under the joint brand name “SpareBank 1”.
Owners
SpareBank 1 Nord-Norge (18 %)
SpareBank 1 SMN (18 %)
SpareBank 1 SR-Bank ASA (18 %)
Samarbeidende Sparebanker Utvikling AS (18 %)
SpareBank 1 Østlandet (18 %)
SpareBank 1 Gruppen AS (10 %)
Subsidiary companies
EiendomsMegler 1 Norge AS
SpareBank 1 Kundesenter AS
Directly owned companies
The following companies are directly owned by the SpareBank 1 banks.
- BN Bank ASA
- SpareBank 1 Boligkreditt AS
- SpareBank 1 Forvaltning AS
- SpareBank 1 Kreditt AS
- SpareBank 1 Næringskreditt AS
- SpareBank 1 Markets AS
- SpareBank 1 Betaling AS
Corporate social responsibility
Each one of the 12 independent banks in the SpareBank 1 alliance ensures they exercise corporate social responsibility in their local communities.
SpareBank 1 Gruppen AS undertakes to take into account how its activities affect people, the environment and society - in addition to the legislation which the financial sector is subject to - and has expressed its corporate social responsibility in the following terms:
Criteria for suppliersSpareBank 1 Gruppen’s procurement policy requires all agreements to include information about corporate social responsibility, ethics and duty of notification. As a minimum, suppliers must satisfy and comply with local, national and international laws, regulations and principles, and in relation to wages, working hours and HSE (Health, Safety and the Environment), as well as anti-corruption.
Combating corruptionEthical guidelines form part of employment contracts and stipulate a number of rules for how employees should act in relation to gifts, customers and hospitality. The company runs an mandatory e-course in ethics and procedures for the notification of unacceptable conditions and safety breaches. SpareBank 1 Gruppen has not drawn up special guidelines for combating corruption.
Ethical managementIn asset management, ethical guidelines and internationally recognised principles of ethical management are followed. Weight is given to ethical considerations when choosing external asset managers and analysing companies in its own funds. Weight is also given to exercising good ownership and excluding companies that do not satisfy the Group's ethical standards.
Human rightsSpareBank 1 Gruppen does not have its own guidelines for human rights. This area is regarded as being covered by the Group's code of conduct, which describes general principles for how employees and representatives should conduct themselves and the principles on which decisions should be based in given situations.
Employee rights and social conditionsSpareBank 1 Gruppen has ensured that employees experience a good balance between work and time off, personal development and various lifestyle activities. The Group has an inclusive working life agreement in place.
The external environmentSpareBank 1 Gruppen is Miljøfyrtårn certified and develops climate accounts on the basis of its overall energy consumption during daily operations. Through energy consumption, travel, transportation, selection of materials, procurement, waste and water consumption, SpareBank 1 Gruppen has a limited impact on the environment.