Totens Sparebank
TOTG.OL
Oslo Stock Exchange290.00
NOK
+5.20
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Totens Sparebank
TOTG.OL
(Oslo Stock Exchange)
Recent
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290.00
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div
yld
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ROIC.AI
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- Business
- Totens Sparebank is a Norwegian savings bank primarily engaged in providing a comprehensive range of banking and financial services to retail and corporate customers in the Innlandet region and southern Norway. The bank's product portfolio includes savings and pension products; deposit and savings accounts; mortgages; consumer loans for cars, motorcycles, motorhomes, boats, and ATVs; leasing; overdrafts; bank guarantees; and refinancing services. It also offers a broad suite of insurance products such as home, leisure, car, travel, animal, agriculture, business, health, and occupational injury insurance, alongside business and credit card services. The bank operates online and mobile banking platforms and provides payment solutions. Founded in 1854, Totens Sparebank is headquartered in Lena, Norway. A significant recent development for Totens Sparebank is its merger with SpareBank 1 Østlandet, finalized on November 1, 2024. This strategic consolidation aims to create a larger and more competitive regional bank with enhanced credit capacity and a broader range of products and digital solutions while maintaining local advisory services through existing locations. As part of the merger, customers of Totens Sparebank transitioned to SpareBank 1 Østlandet's financial products and services, including debit and credit cards and digital banking platforms. The merger also created Totens Sparebankstiftelse, which holds an ownership stake of 8.6% in the merged entity, benefiting the traditional market areas of Totens. Following the merger, Totens Sparebank's shares were removed from public trading indices, marking its integration into SpareBank 1 Østlandet. Totens Sparebank serves approximately 45,000 retail and corporate clients and maintains a significant presence in the Mjøs region. It operates Totens Sparebank Boligkreditt, a wholly owned covered bond issuing vehicle, supporting its mortgage lending activities. The bank is a founding member of the Eika Alliance, collaborating with other regional banks in Norway to offer competitive products and services. Its business segments cover retail banking, insurance, and financing products targeted toward private individuals, small and medium enterprises, and agricultural customers. The bank's operational focus remains on regional customer engagement with an emphasis on digital innovation, product diversification, and sustainable growth through strategic partnerships and mergers, exemplified by its recent unification with SpareBank 1 Østlandet. This transition positions the combined entity to better meet evolving market demands and enhance financial service offerings across its geographic footprint. Totens Sparebank’s longstanding heritage dates back to its establishment in 1854, with headquarters located in Lena, Norway, firmly positioning it as a historic regional financial institution now part of a larger banking group.