SKUE SPAREBANK

What SKUE SPAREBANK does

Skue Sparebank is a Norwegian regional savings bank (sparebank) headquartered in Nesbyen, founded in 1842, and listed under ticker ose:SKUE. It serves private and business customers across Buskerud and Telemark counties through 18 physical branch offices (Asker, B\u00f8, Drammen, Fl\u00e5, Geilo, Gol, H\u00f8nefoss, Kongsberg, Nesbyen, Notodden, Prestfoss, Rauland, Rjukan, R\u00f8dberg, Sauland, Tinn Austbygd, Vikersund, \u00c5mot), supplemented by Mobilbank/Nettbank digital channels with BankID-based onboarding. The bank is a member of the Eika Alliansen, a cooperative alliance of 47 Norwegian local savings banks that provides shared technology, product, and back-office infrastructure.

The product platform spans core retail banking (mortgages/boligl\u00e5n, consumer loans/forbruksl\u00e5n, car loans/bill\u00e5n, savings, funds, BSU, pension savings, payment cards), business banking (bedriftskonto, kassekreditt, bedriftsl\u00e5n, leasing, bank guarantees, payment terminals, KID invoicing, eFaktura), and adjacent lines including insurance intermediation through Fremtind Forsikring, occupational pensions via Storebrand's Eika Innskuddspensjon, accounting software (Eika Regnskap), and digital legal services through Justify AS (wills, advance directives, cohabitation agreements, gift deeds, AI-assisted legal first aid). Technology integrates Norwegian national banking infrastructure \u2014 BankID for identity, Vipps and BankAxept for payments, Nets for processing, Compello for eFaktura B2B, and SEB Kort Bank AB (AirPlus) for credit cards.

Revenue is generated primarily through net interest income on lending products and deposits (with tiered deposit rates up to 4.25% on Toppspar and overdraft fees capped at 200 kr), plus transaction and recurring fees (payment services, AvtaleGiro, Autogiro), insurance commissions from Fremtind, pension management fees (0.40%\u20130.95% AUM-based tiers), card and account fees, and referral fees from Justify legal services and Eika Regnskap (~189 kr/month). The go-to-market is sales-led and relationship-driven: named business advisors serve SMBs across retail, agriculture, clubs/associations, and mid-market segments via face-to-face advisory, customer events, and content marketing. The bank won "Norges beste kundeservice 2025" by KSIndeks.

Name

SKUE SPAREBANK

Legal name

Skue Sparebank

Website

https://skuesparebank.no

Company type

Private

Founded year

1842

Operating status

Operating

Headcount range

101–250 employees

Short description

Skue Sparebank is a Norwegian regional savings bank serving retail, SMB, agricultural, and association customers across Buskerud and Telemark via 18 branches and digital banking, operating under the Eika Alliansen alliance and generating revenue from net interest income, payment fees, insurance intermediation, pensions, and partner referrals.

Ownership category

akta.pro rank

Product category

Retail and Commercial Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (522180), Commercial Banking (52211)

SIC

Savings Institutions, Not Federally Chartered (6036), Functions Related To Depository Banking, Nec (6099)

akta.pro primary industry

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)

akta.pro secondary industry

SME Lending Platforms & Embedded SME Credit (FSAKAGAJ)

Keywords

• Retail banking services
• Commercial banking services
• Mortgage lending
• Savings and pension products
• Insurance intermediation

Headquarters

HQ city

Nesbyen

HQ country

Norway

HQ region

Europe

Offices18 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Net Interest Income: Interest income from lending products including mortgage loans (boliglån), consumer loans (forbrukslån), car loans (billån), business loans (bedriftslån), building loans (byggelån), and kassekreditt (overdraft). Interest expense paid on deposit accounts including sparekonto and toppspar accounts.
2. Commission and Fee Income: Fees from payment services including giro, eFaktura, Autogiro, direct remittance, KID payments, card transactions, and foreign payments. Also includes fees from account services, insurance intermediation, and pension product management.
3. Insurance Intermediation: Commission revenue from intermediating insurance products for Fremtind Forsikring, including home, car, travel, pet, and personal insurance for retail customers, and business insurance, vehicle insurance, and agriculture insurance for business customers.
4. Pension Product Management: Revenue from Eika Innskuddspensjon (contribution-based occupational pension) offered to business customers, with annual management fees based on market value tiers. Administered in partnership with Storebrand.
5. Legal Services Referrals: Referral fees and partnership revenue from offering legal services including testament (will), fremtidsfullmakt (advance directive), samboerkontrakt (cohabitation agreement), and gavebrev (gift deed) through third-party provider Justify AS.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels6 records

Core offering

Skue Sparebank is a Norwegian savings bank providing daily banking, lending, savings, pension, and insurance intermediation services to individuals and businesses in the Buskerud and Telemark regions. The bank offers mortgage loans, consumer loans, vehicle financing, business financing, savings accounts, fund investments, occupational pensions, and insurance products intermediated through partners such as Fremtind Forsikring and Storebrand. It also provides payment services, legal document services, and accounting software through the Eika Alliansen ecosystem, distributed across 18 physical branch offices and digital channels (mobile and internet banking).

Product overview

Skue Sparebank is a regional Norwegian savings bank offering a comprehensive suite of banking, insurance, and financial services through a platform-plus-modules architecture. The core offering consists of daily banking (accounts, cards, payments, international transfers), lending (mortgages, consumer loans, vehicle financing), savings (accounts, funds, pensions), and insurance products (home, travel, life, business coverage). These are delivered via a digital banking platform combining mobile and internet banking with physical branch locations. Business customers additionally receive specialized services including occupational pensions through Eika Innskuddspensjon, business financing, and corporate insurance. The bank extends its offering through strategic partnerships: legal services (testaments, power of attorney, cohabitation agreements) via Justify, accounting via Eika Regnskap, payment processing via Nets and Vipps, and credit cards via AirPlus. The product portfolio reflects a unified banking platform with add-on modules addressing specific customer needs across retail, business, and institutional segments.

Differentiator

Problem solved

Functional benefit

Products and services

• Mobilbank og Nettbank Mobile and internet banking platform allowing retail and business customers to manage accounts, payments, transfers, loan applications, savings, and card management using BankID for secure authentication.
• Bankkort (Debit Cards) Bank debit cards issued for daily banking transactions, purchases, and cash withdrawals domestically and abroad, with currency surcharges and ATM fees disclosed in the price list.
• Kredittkort (Credit Cards) Credit card products including Eika Ansatt Kredittkort for personal and employee use, with optional ID theft insurance and cash advance features.
• Boliglån (Mortgage Loans) Home mortgage loans with calculator tools and refinancing options for residential property purchases, supported by automated and manual underwriting processes.
• Forbrukslån (Consumer Loans) Unsecured personal loans and refinancing of existing consumer debt for individuals.
• Billån (Vehicle Loans) Vehicle financing loans for private car purchases, with options covering motorcycles, motorhomes, and ATVs.
• Banksparing (Savings Accounts) Standard savings accounts and Toppspar term savings products with tiered interest rates by balance and notice periods.
• Fondssparing (Fund Savings) Mutual fund investment savings products including Smartspar automated investing, offered to individuals and minors.
• BSU-sparing (Youth Housing Savings) Government-supported housing savings scheme with tax benefits for first-time home buyers under age 34.
• Pensjonssparing (Private Pension Savings) Individual retirement savings products for personal pension planning.
• Forsikring (Personal Insurance) Personal insurance products including home, contents, travel, vehicle, pet, and child insurance, intermediated through Fremtind Forsikring.
• Bedriftskonto (Business Current Account) Business current accounts with tiered interest rates by balance, dual control and dual approval features for associations and organizations.
• Bedriftslån (Business Loans) Business financing including operating loans, construction loans, factoring, and credit facilities for SMBs and enterprises.
• Bankgaranti (Bank Guarantees) Bank guarantees issued to business customers to support contractual obligations with counterparties.
• Leasing Leasing solutions for business equipment and vehicle financing.
• Kassekreditt (Overdraft Facility) Overdraft credit facilities supporting business cash flow management.
• Bedriftsforsikring (Business Insurance) Business insurance including property, liability, employee, vehicle, and agriculture coverage, intermediated through Fremtind Forsikring.
• Personforsikring (Employee Insurance) Employee insurance products including health, sickness, accident, occupational injury, and group life insurance for businesses.
• Eika Innskuddspensjon (Occupational Pension) Contribution-based occupational pension for businesses, with annual management fees on a tiered basis by market value; administered in partnership with Storebrand via the Bedriftsveilederen platform.
• Pensjon for selvstendig næringsdrivende (Self-Employed Pension) Pension solutions for self-employed individuals with contribution levels calibrated to business income.
• Fremtidsfullmakt (Advance Directive) Digital advance directive service allowing customers to designate representatives for financial and personal decisions in case of incapacitation, with lawyer quality assurance and lifetime storage, priced at 3,490 kr (3,990 kr for mutual).
• Testament (Will) Digital testament creation with attorney review, inheritance simulator, and automatic notification to heirs upon death, priced at 3,490 kr per will.
• Samboerkontrakt (Cohabitation Agreement) Digital cohabitation agreement with property ownership calculations and expense distribution features, priced at 1,990 kr.
• Gavebrev (Gift Deed) Digital gift letter service documenting gifts and inheritance advances with automatic storage and delivery to heirs, priced at 1,990 kr.
• Juridisk førstehjelp (Legal First Aid) AI-assisted legal guidance service where AI generates follow-up questions and case summaries before jurist review, with a written report and 15-minute follow-up call, priced at 1,990 kr per case.
• Eika Regnskap (Accounting Software) Accounting software subscription for clubs, associations, and small businesses with dual approval and dual control features, offered at 189 kr per month.

Quantifiable outcome

• Norges beste kundeservice 2025 - won best customer service in banking in Norway through KSIndeks survey of 20,000+ customers

Named customers3 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability6 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Eika AlliansencoreStrategic or Co-development PartnerSkue Sparebank is a member of Eika Alliansen, a Norwegian alliance of 47 local savings banks. The alliance provides shared technology platforms, product development, digital tools, insurance products (through Eika Forsikring), fund management (Eika Kapitalforvaltning), accounting software (Eika Regnskap), and collective marketing. Members maintain local brand identity and customer relationships while benefiting from shared infrastructure and economies of scale.
• StorebrandcoreTechnology or IntegrationStorebrand is the provider of Eika Innskuddspensjon (occupational pension) offered through Skue Sparebank to business customers. The Bedriftsveilederen (Business Guide) platform is provided by Storebrand, allowing businesses to set up pension and insurance in 3 minutes. Skue Sparebank acts as the local advisor and relationship manager while Storebrand provides the product administration platform.
• Fremtind ForsikringcoreTechnology or IntegrationFremtind Forsikring is the insurance provider behind Skue Sparebank's insurance product range, including home, car, travel, pet, personal, business, vehicle, and agriculture insurance. The bank acts as insurance intermediary, earning commission on policies sold. Fremtind is owned by SpareBank1 and DNB.
• VippscoreTechnology or IntegrationVipps is integrated into Skue Sparebank's payment ecosystem, enabling mobile payments, Tæpp med Vipps (tap to pay), and Vipps business payments for both retail and business customers. The bank offers Vipps as a payment solution for associations and events.
• Justify ASminorGTM or Marketing PartnerJustify AS provides digital legal document services offered through Skue Sparebank including testament (will), fremtidsfullmakt (advance directive), samboerkontrakt (cohabitation agreement), gavebrev (gift deed), and juridisk førstehjelp (legal first aid). The bank earns referral/partner fees and provides a customer acquisition channel for Justify.
• Eika RegnskapminorChannel Partner/ Reseller/ DistributorEika Regnskap is an accounting software solution offered through Skue Sparebank to business customers and associations at 189 kr/month. The bank resells this service as part of its business product ecosystem.
• NorgesGruppenminorOthersNorgesGruppen (Meny, Kiwi, Spar, Joker) provides Kontanttjenester i Butikk (cash in store) services for Skue Sparebank customers, allowing cash deposits and withdrawals at their store locations across Norway.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Sparebanken Sør: Norwegian regional savings bank serving southern Norway, offering similar retail and SME banking, insurance intermediation, and digital services; directly comparable business model and regional focus.
• SpareBank 1 Sørøst-Norge: Another regional Norwegian savings bank alliance member under SpareBank 1 with a comparable mix of retail and SME banking across southeastern Norway; competes for the same relationship-driven regional customer base as Skue Sparebank.
• Sparebanken Vest: Listed Norwegian regional savings bank serving western Norway with retail and SME banking products, similar multi-channel strategy combining branches with digital banking; comparable in size and customer segment focus.
• Sparebanken Øst: Regional Norwegian savings bank serving the eastern Buskerud/Østfold area, partially overlapping Skue Sparebank's footprint; directly competes for retail and SME customers with similar product set.

Others

• Storebrand ASA: Norwegian insurance and pension provider, and Skue Sparebank's partner for occupational pension administration via Eika Innskuddspensjon; an ecosystem participant rather than direct competitor but critical to Skue Sparebank's SME pension offering.
• Fremtind Forsikring: Norwegian insurance company jointly owned by SpareBank 1 and DNB, providing insurance products intermediated through Skue Sparebank and other alliance banks; a key partner but also a strategic dependency tied to direct competitors.
• Eika Alliansen: Norwegian banking alliance of 47 local savings banks including Skue Sparebank, providing shared technology, products, and collective marketing; an ecosystem partner that enables Skue Sparebank's operating model but also constrains independent strategic moves.

Emerging players

• Sbanken ASA: Norwegian digital-first bank offering retail deposits, mortgages, and consumer loans via mobile app; an emerging player that competes primarily on digital UX and pricing for Norwegian retail customers who might otherwise use Skue Sparebank.

Broad incumbents

• DNB Bank ASA: Norway's largest financial services group offering retail, corporate, and investment banking nationwide; a broad incumbent that competes across all Skue Sparebank segments with superior scale, capital markets access, and digital capabilities. Co-owner of Fremtind.
• SpareBank 1 SR-Bank: Large Norwegian regional savings bank alliance leader with full-service retail, corporate, and capital markets offerings; competes with Skue Sparebank for SME and retail customers in overlapping geographies and is the parent-affiliate of Skue's insurance partner Fremtind.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/skuesparebank.no
• LinkedInlinkedin.com/company/skue-sparebank

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

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 SKUE SPAREBANK