The BANK of Greenland

The BANK of Greenland (Danish: GrønlandsBANKEN) is one of two commercial banks in Greenland, listed on the Copenhagen Stock Exchange as GRLA,[4] with 2,700 shareholders in 2017.[5] Headquartered in Nuuk,[6] the bank had 118 employees in 2017.[5]

GrønlandsBANKEN A/S
TypeAktieselskab
Nasdaq Copenhagen: GRLA
ISINDK0010230630 
IndustryFinancial services
Founded1967
HeadquartersNuuk, Greenland
Key people
Gunnar Í Liða (Chairman),[1] Martin Kviesgaard (CEO)[2]
ProductsBanking, insurance, investment management
RevenueDKK X.X million (2017)[3]
DKK 90.449 million (2017)[3]
Total assetsDKK X.X million (end 2017)[3]
Total equityDKK X.X million (end 2017)[3]
Number of employees
118 (FTE, end 2017)[3]
Websitebanken.gl
The Bank of Greenland headquarters (right) are located in the Nuuk Centrum.

History

The Bank of Greenland was founded on 26 May 1967 by a number of Danish banks, during the era when Greenland was still a province of Denmark. The founding banks were Privatbanken, Danske Bank, Kjøbenhavns Handelsbank, and an organization of local banks, provincial and Copenhagen-based.[7] Operations started in Nuuk on 1 July 1967, while local branches in Ilulissat, Sisimiut, and Qaqortoq followed in 1985, and in Maniitsoq in 1989.[7]

On 8 June 1985 the bank merged with Nuna Bank (formerly Bikuben), with the capital of 120 million Danish krone (DKK), retaining the name of Grønlandsbanken, and becoming the only commercial bank in the country.[7]

Later, the Bank Nordic, which has its headquarters on the Faroe Islands, established itself as a competitor with an office in Nuuk, Greenland (Bank Nordic also has offices in the Faroe Islands and Denmark).

Operations
Ilulissat branch

The Bank of Greenland provides commercial services, as well as products and services for private customers such as loans, specialized and automated deposits, and property trading and administration. With 50,000 customers,[5] the Bank of Greenland has branches in major towns in Greenland, while bank operations in small settlements are handled via the integrated Post Greenland offices in the Pilersuisoq all-purpose stores.[7]

Banca Transilvania deal

The Romanian Banca Transilvania offered in begin 2018 DKK 1.14 Billion for the Bank of Greenland. The Bank of Greenland did not respond to this offer.

See also

References
  1. "Board of Directors". BANK of Greenland, Official Website. Retrieved 9 May 2018.
  2. "Executives". The BANK of Greenland, Official Website. Retrieved 9 May 2018.
  3. "ANNUAL REPORT 2017" (PDF). The BANK of Greenland. Retrieved 9 May 2018.
  4. "GrønlandsBANKEN (GRLA:DC)." Archived 2012-09-28 at the Wayback Machine Business Week. (retrieved 5 Feb 2010)
  5. "About us". The BANK of Greenland, Official Website. Retrieved 9 May 2018.
  6. "The BANK of Greenland". The BANK of Greenland, Official Website. Retrieved 9 May 2018.
  7. "History". Bank of Greenland, Official Website. Retrieved 9 May 2018.

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