Subsidiaries, associates and product companies

Frende Holding AS

Frende Holding AS manages the ownership interests in the wholly owned subsidiaries Frende Skadeforsikring AS and Frende Livsforsikring AS. The companies offer a broad range of life and non-life insurance products to business and retail customers. Frende was established in 2007 and is headquartered in Bergen.

Sparebanken Norge holds a 67.18% ownership interest in Frende Holding AS, comprising 49.99% of the A shares and 100% of the B shares. The remaining shares are held by 17 other independent savings banks, Varig Forsikring Nordmøre og Romsdal, Varig Hadeland Forsikring and Varig Orkla Forsikring.

Norne Securities AS

Norne Securities AS is an investment firm established in 2008. The company provides capital markets advisory services and specialises in serving savings banks and their customers.

Norne’s business areas include online trading in equities and funds for retail investors, investment banking and securities trading for professional investors. The company is headquartered in Bergen and has offices in Oslo, Trondheim and Vilnius.

Sparebanken Norge is Norne’s largest shareholder, with an ownership interest of 49.99%. The remaining shares are held by 19 other independent savings banks, employees and Must AS. Norne also holds treasury shares.

Brage Finans AS

Brage Finans AS is a nationwide financing group headquartered in Bergen. Established in 2010, the company provides leasing and asset-backed financing to business and retail customers. Through its subsidiary Factoring Finans AS, Brage also provides factoring, invoice financing and credit insurance.

Its services are distributed through shareholder banks, equipment dealers and its own sales organisation.

Sparebanken Norge holds a 71.73% ownership interest in Brage Finans AS. The remaining ownership is held by 25 other independent banks, Varig Forsikring Nordmøre og Romsdal, Varig Hadeland Forsikring and Varig Orkla Forsikring.

Sparebanken Norge Boligkreditt AS

Sparebanken Norge Boligkreditt AS is a wholly owned subsidiary of Sparebanken Norge. The company finances the Group’s residential mortgage portfolio through the issuance of covered bonds.

Eiendomsmegler Norge AS

Eiendomsmegler Norge AS is a wholly owned subsidiary of Sparebanken Norge. The company was formed through the merger of Sørmegleren and Eiendomsmegler Vest.

Frende Kapitalforvaltning AS

Sparebanken Norge holds an 85% ownership interest in Frende Kapitalforvaltning AS. Sparebanken Møre holds 7.5%, while the remaining 7.5% is held by other banks participating in the Lokalbank partnership.

Frende Kapitalforvaltning owns 70% of Borea Asset Management AS, which manages equity and fixed-income funds.

Bulder

Bulder is a digital banking brand operated under Sparebanken Norge’s banking licence. Established in 2019, Bulder provides mortgages and everyday banking services through a fully digital customer experience.

Balder Betaling AS

Balder Betaling AS was established in 2017 to manage ownership interests in payment infrastructure and services, including Vipps.

Balder Betaling holds an 8.9% ownership interest in Vipps Holding AS, which in turn owns 72.2% of Vipps MobilePay AS and 100% of Stø AS, formerly BankID BankAxept.

Sparebanken Norge holds a 73.54% ownership interest in Balder Betaling AS, comprising 49.99% of the A shares and 100% of the B shares. The remaining shares are held by 16 other independent savings banks.