Den norske Bank facts for kids
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| Industry | Banking |
|---|---|
| Fate | Merged |
| Successor | DnB NOR |
| Founded | 1990 |
| Defunct | 1999 |
| Headquarters | Bergen, Norway |
| Products | Postbanken, Cresco, American Express |
| Parent | Norwegian Ministry of Finance |
Den norske Bank, often called DnB, was a big bank in Norway. It existed from 1990 until 2003. That's when it joined with another bank, Gjensidige NOR, to create a new, even bigger bank called DnB NOR. Today, this bank is known as DNB ASA. DnB's main office was located in the city of Bergen, Norway.
What Was Den norske Bank?
Den norske Bank was an important part of Norway's financial world. It helped people and businesses with their money, offering services like savings accounts and loans. It played a key role in the country's economy for over a decade.
How DnB Started
DnB was formed in 1990. It was created when two other banks, Bergen Bank and Den norske Creditbank, decided to merge. This happened after a difficult time for the economy, especially for banks. Many banks had lost a lot of money because people found it hard to pay back their loans, and house prices were falling. By joining forces, Bergen Bank and Den norske Creditbank aimed to become stronger together.
Who Owned DnB?
The Government of Norway owned most of Den norske Bank. This meant the country's government had a big say in how the bank was run. Even though the government owned most of it, the bank's shares could also be bought and sold on the Oslo Stock Exchange. This is a place where parts of companies can be traded by the public.
Growing Bigger
Over the years, DnB continued to grow. In 1996, it bought a company called Vital Forsikring, which was an insurance company. Then, in 1999, DnB merged with Postbanken. Postbanken was another bank that often worked with the postal service. These mergers helped DnB become an even larger and more powerful bank in Norway before its final merger in 2003.
