Vekselbanken

What Vekselbanken does

Vekselbanken, legally Voss Veksel- og Landmandsbank ASA, is a Norwegian regional savings bank founded in 1899 and headquartered in Voss, Norway. The bank operates three physical branches in Voss, Eidfjord, and Kinsarvik within the Hardanger region of Western Norway, serving private retail customers, small and medium-sized businesses, and agricultural clients. It is publicly listed on Oslo Børs under ticker VVL and operates as a member of the Eika Alliansen, a network of approximately 50 Norwegian regional banks that share digital banking infrastructure and joint product development capabilities. The group also includes a wholly-owned subsidiary, Aktiv Voss AS, which provides real estate brokerage services under the Finanshuset Vekselbanken umbrella.

The bank offers a full retail banking product suite including daily banking services (current accounts, debit/credit cards, mobile and internet banking), lending products (home mortgages, car loans, consumer loans, and refinancing), insurance (home contents, house, vehicle, travel, pet, and children), and savings and pension solutions (savings accounts, fund savings, BSU youth housing savings, automated Smartspar, Mikrosparing, and pension products). Its technology stack integrates BankID for digital identity authentication and Vipps for mobile payments, with broader digital development sourced through the Eika Alliansen shared platform. The bank employs approximately 24-30 staff across advisory, customer service, administration, and management functions, and maintains telephone banking as well as paper-based BrevGiro services for non-digital customers.

Vekselbanken generates revenue primarily through net interest income on its lending portfolio, supplemented by banking fees and commissions on payment and card services, insurance commissions distributed through alliance partners, and fees on savings, fund, and pension products. With a relationship-driven local banking model and 126 years of operating history, it differentiates through embedded community presence, dedicated personal advisors, and multi-product household relationships rather than technology or scale advantages. The bank holds an official credit rating from Nordic Credit Rating (NCR), publishes quarterly reports, and was recognized in 2025 as part of the Eika Alliansen banks winning the Norwegian Customer Service Index (Norsk Kundeserviceindeks) award for best customer service in Norway.

Name

Vekselbanken

Legal name

Voss Veksel- og Landmandsbank ASA

Website

https://vekselbanken.no

Company type

Public

Founded year

1899

Operating status

Operating

Headcount range

11–50 employees

Short description

Vekselbanken is a publicly listed Norwegian regional bank (Oslo Børs: VVL) founded in 1899, serving private customers, SMBs, and agricultural clients in the Hardanger region through three branches and digital channels as part of the Eika Alliansen.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Depository Credit Intermediation (5221)

SIC

National Commercial Banks (6021)

akta.pro primary industry

Branch & In-Person Banking (Teller/ATM Networks) (FSABAAAE)

akta.pro secondary industries

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC), Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI)

Keywords

• Retail banking services
• Commercial lending
• Regional banking
• Savings and pension
• Insurance products

Headquarters

HQ city

Vossevangen

HQ country

Norway

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Interest Income: Traditional banking revenue from interest margins on lending products including mortgages, car loans, and consumer credit
2. Banking Fees and Commissions: Fees from account services, payment processing, card transactions, and other banking services
3. Insurance Products: Commission income from insurance products including home, car, travel, and personal insurance
4. Savings and Investment Products: Fees and commissions from fund management, pension products, and savings account offerings

Go-to-market motion1 record

Distribution channels5 records

Marketing channels4 records

Core offering

Vekselbanken operates as a regional Norwegian commercial bank providing daily banking services (current accounts, debit and credit cards, payments, mobile and internet banking), lending products (residential mortgages, car loans, consumer loans, refinancing), insurance coverage (home, vehicle, travel, pet, children), and savings and pension products (savings accounts, fund savings, BSU youth savings, pension savings). The bank serves private individuals, businesses, and agricultural customers primarily in Western Norway through three physical branches and digital banking channels, operating as an independent member of the Eika Alliance of Norwegian regional banks.

Product overview

Vekselbanken operates as a regional Norwegian bank offering a unified platform of banking, insurance, and savings products through both digital channels (mobile and internet banking) and traditional services. The core offering consists of daily banking services (Dagligbank) encompassing accounts, cards, and payments; lending products including mortgages, car loans, and consumer credit; savings and pension solutions; and comprehensive insurance coverage. The bank differentiates through personalized advisory services and serves customers preferring both digital and non-digital banking methods, with supplementary services like Vipps mobile payments, BankID authentication, and various giro payment options.

Differentiator

Problem solved

Functional benefit

Products and services

• Dagligbank (Daily Banking Services) Core everyday banking services including current accounts (brukskonto), debit and credit cards, payment services (AvtaleGiro, eFaktura, Vipps), international payments, and identity verification, accessible via mobile banking app, internet banking, and physical branches for private and business customers.
• Forsikring (Insurance) Comprehensive insurance coverage including vehicle (bilforsikring), home contents (innboforsikring), house (husforsikring), travel (reiseforsikring), pet (hundeforsikring), and child (barneforsikring) insurance, with claims reporting service available.
• Lån (Loans) Lending products including residential mortgages (bustadlån), car loans (billån), loans for motorcycles, caravans, and ATVs, unsecured consumer loans (forbrukslån), and debt consolidation refinancing, with online application tracking available.
• Sparing og pensjon (Savings and Pension) Savings and retirement products including savings accounts (banksparing), tax-advantaged youth housing savings (BSU), fund savings for adults and children (fondssparing), automated savings (Smartspar, mikrosparing), and pension savings (pensjonssparing).

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Eika AlliansencoreTechnology or IntegrationVekselbanken is a member of Eika Alliance, a network of approximately 50 local banks in Norway. The alliance provides shared digital banking technology, product development, and marketing support. Member banks collaborate on digital development while maintaining local brand identity and customer relationships.
• Nordic Credit Rating (NCR)minorOthersCredit rating agency that has assigned official credit rating to Voss Veksel- og Landmandsbank ASA
• Aktiv Voss ASminorOthersSubsidiary of the bank group providing real estate brokerage services under Finanshuset Vekselbanken

Scale indicators5 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Skue Sparebank: Skue Sparebank is a small Norwegian savings bank serving the Numedal/Kongsberg region. As a fellow Eika Alliansen member of comparable scale, it shares the same digital platform, customer segments, and community-bank operating model.
• Aasen Sparebank: Aasen Sparebank is a small Norwegian savings bank serving the Trøndelag region, operating on the same Eika Alliansen infrastructure. Its product mix, customer segments, and community-bank positioning closely mirror Vekselbanken's.
• Sparebanken Vest: Sparebanken Vest is a regional savings bank headquartered in Bergen that serves Western Norway, the same broad geographic region as Vekselbanken. It offers a comparable full-service retail and SME banking, lending, and insurance product suite, making it the closest regional peer.
• Sunndal Sparebank: Sunndal Sparebank is a small Norwegian savings bank in Møre og Romsdal, similar in scale and rural footprint to Vekselbanken. It is part of the Eika Alliansen and competes in retail/SME banking, mortgages, and insurance in its local market.
• Høland og Setskog Sparebank: Høland og Setskog Sparebank is a small Norwegian savings bank operating in a similar rural community-banking context and is also an Eika Alliansen member. Comparable in size, product set, and customer base to Vekselbanken.
• Sogn Sparebank: Sogn Sparebank is a small Norwegian savings bank operating in the Sogn region of Western Norway, directly adjacent to Vekselbanken's Hardanger market. It is a fellow member of Eika Alliansen and offers the same Eika-platform retail banking, lending, and insurance products to a similar small-town rural customer base.

Broad incumbents

• Eika Gruppen: Eika Gruppen is the alliance company at the centre of the Eika Alliansen network of ~50 Norwegian local banks, including Vekselbanken. It provides shared digital infrastructure, product development, and insurance distribution, and effectively sets the strategic and technology agenda that Vekselbanken operates within.
• Sparebank 1 SR-Bank: Sparebank 1 SR-Bank is one of Norway's largest regional savings banks, operating across Rogaland and Agder. While far larger than Vekselbanken, it competes for Norwegian savings, lending, and insurance customers using a similar full-service community-bank model, and is a useful reference point for how regional Norwegian savings banks scale.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/vekselbanken
• Facebookfacebook.com/vekselbanken
• LinkedInlinkedin.com/company/vekselbanken

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Vekselbanken