Aasen Sparebank

Name

Aasen Sparebank

Legal name

Aasen Sparebank

Website

http://www.aasen-sparebank.no

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (522180), Depository Credit Intermediation (5221)

SIC

Savings Institution, Federally Chartered (6035), State Commercial Banks (6022)

akta.pro primary industry

Mutual Savings Banks & Mutual Thrifts (FSABAEAD)

Keywords

• Retail banking services
• Mortgage lending
• Savings accounts
• Business banking
• Insurance distribution

Headquarters

HQ city

Åsen

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. Lending Operations: Interest income generated from mortgage loans (boliglån), consumer loans (forbrukslån), green loans (grønne lån), boat loans, vehicle loans, and business financing including agricultural loans.
2. Deposit Taking: Accepting customer deposits through savings accounts (sparekonto), BSU (youth housing savings), and business deposit accounts.
3. Payment Services: Payment processing services including bank cards (debit/credit), and various payment solutions for both retail and business customers.
4. Insurance Distribution: Partnership with Frende Forsikring for insurance products including home, travel, vehicle, pet, and life/health insurance, earning commissions on referred sales.
5. Investment Products: Distribution of mutual funds (fond), stocks (aksjehandel), and pension products with Norne Securities for securities trading.
6. Legal Services: Partnership with Justify for legal document services including cohabitation agreements, wills, and power of attorney.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels3 records

Core offering

Aasen Sparebank is a Norwegian regional savings bank that provides retail and business banking products including home mortgages (Boliglån), consumer loans, vehicle and boat loans, savings accounts, BSU youth housing savings, investment and stock trading services (via Norne Securities), pension products, and insurance distribution (via Frende Forsikring). Business customers additionally access leasing, overdraft facilities, bank guarantees, occupational pensions, and agricultural financing. Banking services are delivered through three physical branches (Åsen, Levanger, Verdal) and digital channels including a netbank web portal and a native mobile banking app for iOS and Android.

Product overview

Aasen Sparebank is a Norwegian local bank (lokalbank) offering a comprehensive suite of retail and business banking products. The core platform includes digital banking through Nettbank og mobilbank, along with traditional banking services. Retail offerings cover home loans (Boliglån), consumer loans, savings accounts (Sparekonto), investment services (Fond & aksjer, Aksjehandel via Norne Securities), and insurance products through the Frende Forsikring partnership. The bank also provides specialized products including green loans (Grønne lån) and youth housing savings (BSU). For business customers, Aasen offers business banking services, commercial lending, leasing, occupational pension (Innskuddspensjon), and agricultural insurance. The product portfolio includes add-on services such as legal document services (Juridiske tjenester via Justify), a savings robot for automated investment advice, and real estate brokerage services.

Differentiator

Problem solved

Functional benefit

Products and services

• Boliglån (Home Mortgages)

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration14 records

Feature5 records

Partnerships

Six partnerships are on record, tiered minor and core.

• JustifyminorStrategic or Co-development PartnerPartnership with Justify for legal services including samboerkontrakt (cohabitation agreements), testament (wills), and fremtidsfullmakt (power of attorney). The bank refers customers to Justify's platform for simple, affordable legal documentation services.
• Frende ForsikringcoreChannel Partner/ Reseller/ DistributorInsurance partnership with Frende Forsikring offering insurance products including vehicle insurance (bilforsikring), boat insurance (båtforsikring), home and contents insurance (hus og innbo), travel insurance (reise), pet insurance (husdyr), and youth insurance (Frende UNG). Customers can access Frende insurance through the bank's platform and receive claims service via Frende's customer portal.
• Norne SecuritiesminorChannel Partner/ Reseller/ DistributorInvestment services partnership providing access to securities trading and investment products through Norne Securities portal integrated with the bank's digital platform.
• Brage FinansminorChannel Partner/ Reseller/ DistributorFinancing partner offering credit card services through LB Kredittkort (LB Credit Card) accessible via the bank's platform for customers seeking credit solutions.
• NetcompanycoreTechnology or IntegrationNetcompany provides banking services technology infrastructure for the bank's netbank operations, maintaining secure and continuous session management for online banking services.
• BankIDcoreTechnology or IntegrationBankID provides secure authentication and electronic identification services enabling customers to securely log into the netbank and authorize transactions.

Scale indicators1 record

Recent moves6 records

Expansion highlights4 records

Direct peers

• Sparebanken Vest: Norwegian regional savings bank operating across western Norway with a comparable retail and business banking product suite including mortgages, savings, insurance, and investment services. Similar mutual/savings bank ownership model and community-banking positioning make it a close structural peer.
• Sparebanken Sør: Norwegian regional savings bank (equity certificate-listed) serving southern Norway with a similar omnichannel retail/SMB banking model, life-stage product positioning, and partnership-driven insurance and investment distribution.
• SpareBank 1 SMN: Mid-Norway regional savings bank headquartered in Trondheim — the largest savings bank in the Inntrøndelag macro-region. Comparable geographic footprint and the same savings bank ownership heritage, though at meaningfully larger scale.
• Sparebanken Norge (Eika Gruppen): Alliance of independent Norwegian savings banks (Eika Gruppen) that share technology, insurance, and product infrastructure. Aasen Sparebank's independent operations mirror the small-bank, partnership-stack model of Eika member banks.
• SpareBank 1 Nord-Norge: Northern Norway savings bank with similar regional retail/SMB banking focus, equity certificate listing, and comprehensive product suite covering lending, savings, insurance, and investments.
• Helgeland Sparebank: Small Norwegian regional savings bank with similar size, branch-based distribution, and retail/business banking focus. Equity certificate listed; comparable scale and product scope to Aasen Sparebank.

Broad incumbents

• SpareBank 1 Sør-Norge: Largest savings bank in the SpareBank 1 alliance and second-largest Norwegian bank overall. Offers an overlapping retail/business banking product suite but at national scale and through a wider alliance distribution model.
• DNB Bank: Norway's largest bank and the dominant national incumbent across retail, business, and corporate banking. Operates as the primary competitive benchmark for regional savings banks and increasingly owns Sbanken (acquired digital bank).
• KLP Banken: Banking arm of Norway's largest pension provider, offering retail mortgages, savings, and lending products. Competes with regional savings banks in deposit gathering and home loan origination across Norway.

Emerging players

• Storebrand Bank: Norwegian digital-focused savings bank within the Storebrand financial group, offering deposit and lending products with a lighter physical footprint. Represents the digital-native competitive pressure facing traditional savings banks like Aasen.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

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 Aasen Sparebank