Bank 1 Oslo AS becomes directly owned by SpareBank 1-banks and the Norwegian Confederation of Trade Unions (LO)

Bank 1 Oslo AS will be separated from SpareBank 1 Gruppen AS, and become an independent commercial bank, directly owned by the SpareBank 1-banks and LO.
 
SpareBank 1 SR-Bank, SpareBank 1 SMN, SpareBank 1 Nord-Norge and Samarbeidende Sparebanker AS will acquire 19.5 % of the shares in Bank 1 Oslo AS. Sparebanken Hedmark and the Norwegian Confederation of Trade Unions (LO) / affiliated trade unions will aquire 12 % and 10 % respectively.
 
Bank 1 Oslo AS has until now been a fully owned subsidiary of SpareBank 1 Gruppen AS.
 
According to the schedule, change of ownership will have effect from 1 January 2010.
 
Further information can be found in today's press release from SpareBank 1-Gruppen.
 
Contact persons at SpareBank 1 Nord-Norge
CFO Rolf Eigil Bygdnes           +47 77 62 22 11
+47 905 19774

About Us

SpareBank 1 Nord-Norge is a leading provider of financial products and services in North-Norway. In addition to loans, deposits and payment transmission services, this also comprises most other savings products, as well as life- and non-life insurance products. Services and products are made available either by the bank and its subsidiaries, or through SpareBank 1 Gruppen AS's product companies.

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