Fellesbanken
 | This article relies largely or entirely on a single source. (September 2023) |
| Industry | Norwegian savings banks |
|---|
Fellesbanken was a
History
Fellesbanken was created with two functions. First of all it was to function as a central bank for the savings banks of Norway. Originally, the savings banks of Norway were all independent banks without branches, though they still had a need for central banking functions.
It was not until after World War II that it became normal for savings banks to merge and the need for such a central bank depleted. Fellesbanken was also a commercial bank, and allowed the savings banks to have such a bank. Commercial banks had certain privileges that savings banks didn't, especially within the business sector. These privileges disappeared, and by the time of their merger they were non-existent.
In the 1970s Fellesbanken established branches in Bergen, Bodø, Kristiansand, Sarpsborg, Tromsø, Trondheim and Vadsø. After the establishment of regional savings banks Fellesbanken became redundant and a competitor, and in the 1980s the bank was made a savings bank. In 1985 it merged with Sparebanken Oslo/Akershus.
References
- ^ The Bankers' Almanac and Year Book. T. Skinner. 1986. p. 1354.
