BankNordik

BankNordik P/F
Industry Financial services
Founded 1906 (1906)
Headquarters Tórshavn, Faroe Islands
Key people
 Stine Bosse (Chairman)[1]
Products Banking, insurance
Increase (DKK 227 million) (2016)
Total assets DKK 15.5 billion(2016)
Total equity DKK 1.9 billion (2016)
Number of employees
 415 (FTE, 2009)
Website www.banknordik.com

BankNordik is a Faroe Islands-based financial services company that provides banking and insurance services. It also provides some services in, Denmark, and Greenland. The Faeroese-based bank was previously known as Føroya Banki but after acquiring assets abroad, a new name was chosen to reflect its new market reach.[2] It is one of the two full-service banking firms in the Faroe Islands.

The bank's services cover 40% of the market share in the Faroe Islands.[3]

Mergers and acquisitions

Over the years BankNordik has acquired similar assets while also divesting from some markets.

  • In February 2010 it acquired 12 branches of Sparbank in Greenland.
  • In 2011 the bank acquired some assets of Amagerbanken.

References

  1. ↑ "Annual report" (PDF).
  2. ↑ Foroya Bank to become BankNordik. Nordic Business Report (M2). Mar. 17, 2010
  3. ↑ "Moody's Investors Services: Global Credit Research" (PDF). euroinvestor.dk/. Moody's.
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