The management of the merged bank will be, from left: Morten Kokkim (Chair of the Board), Siri Berggreen (Deputy CEO), Hans Kristian Glesne (CEO), and Barbro Ternsten (Deputy Chair).
Romerike Sparebank and Skue Sparebank have signed a letter of intent to merge, forming the country's eighth-largest savings bank – with a strong local foothold in Romerike.
A major new player with a local heart. That is the image the merger partners are painting of a new, combined major bank that will serve 38 municipalities in Akershus, Buskerud, and Telemark, with a total of 760,000 inhabitants.
The letter of intent must be approved by the banks' representative bodies before it can take effect. The boards of both banks have already approved the agreement.
Retaining a clear Romerike profile
The merged bank will operate under the name Skue Sparebank, using Romerike Sparebank's graphic profile and color scheme. Romerike's local identity will be preserved through the bank name "Skue Sparebank Romerike." To "skue" means to look, observe, or have a view. To lift one's gaze and look further ahead. The new bank will look forward, while keeping its heart local.
The banks will retain all 225 employees, and all 23 branches will remain open.
The merged bank will have its business address in Lillestrøm. The bank, which will be part of the Eika Alliance, will have total assets of over 62 billion NOK. This provides room for greater involvement in the local business community.
Strong savings bank foundation in Romerike
By joining forces, Romerike Sparebank and Skue Sparebank aim to create an even better bank for their customers.
– We will be the bank that uses the power of being large to become very good for our local communities. The banks' relationship with their customers is at the center, points out CEO Siri Berggreen of Romerike Sparebank.
A key element of the merger is the strengthening of the responsibility for local communities through six savings bank foundations, which together manage capital of 2.5 billion NOK. The foundation in Romerike, which will be the largest of the foundations, will have significant local grant capacity.
Keeping the focus on customers
The two banks currently do not have overlapping coverage areas, which provides an opportunity to combine the best of both environments.
– The banks' relationship with their customers will be at the center. A merger will enable the banks to maintain their positions by developing the bank of the future, both locally and digitally, says Siri Berggreen.
She will join the new management team as Deputy CEO. The CEO will be Hans Kristian Glesne (currently CEO of Skue Sparebank). Morten Kokkim (current Chair of the Board at Romerike Sparebank) will become Chair of the Board for the merged bank, with Barbro Ternsten (current Chair of the Board at Skue Sparebank) as Deputy Chair.
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