About SBNOR

Founded: 1823
Employees: 1660
CEO: Jan Kjerpeseth
WebsiteView website: www.sbnorge.no

Sparebanken Norge, a financial services company, provides banking and financing services. The company is involved in investment banking; trading in securities for professional investors; leasing and selling mortgage loans; and real estate agency business. It serves retail and commercial markets, as well as the public sector in Southern, Western, and Eastern Norway. Sparebanken Norge was founded in 1823 and is headquartered in Bergen, Norway.

Recent SBNOR News & Updates

Announcement • Jun 11

Sparebanken Norge Reduces Workforce by 100 to 120 Full-Time Equivalents as Part of Transformation Programme

Sparebanken Norge has initiated the announced transformation programme to strengthen the bank’s competitiveness in a market characterised by increased digitalisation, changing customer needs and tighter cost requirements. The programme comprises several key development areas across the bank, including stronger nationwide distribution, increased use of artificial intelligence, modernisation of technology and continued enhancement of customer experiences. As part of the transformation programme, the bank is planning a workforce rebalancing that will involve a reduction of approximately 100–120 full-time equivalents in certain divisions compared with the staffing level at the end of the first quarter of 2026. This will apply to staff and support functions, personal banking and direct banking. The measures will be implemented during 2026. These measures are not primarily related to the merger and its effects but are a necessary step to address competition in the market, with pressure on net interest income and continued high inflation. In connection with the capital markets day in August 2026, the bank will provide further information on the financial effects of the measures. The transformation programme will also support and create room for an ambitious expansion into new market areas, which entails a significant increase in staffing in the customer divisions in the phase we are now in as we build Sparebanken Norge. Overall, there is therefore reason to believe that the number of full-time equivalents in the bank will remain at approximately today’s level over time.

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About SBNOR

Recent SBNOR News & Updates

Sparebanken Norge (OB:SBNOR) Stock Could Be 67% Below Fair Value After Transformation Plan

Sparebanken Norge Launches Programme to Modernise Services and Improve Customer Experience

Sparebanken Norge Reduces Workforce by 100 to 120 Full-Time Equivalents as Part of Transformation Programme

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