What Lokalbank does

Lokalbank is a cooperative of 17 independent Norwegian savings banks that jointly own LB Selskapet AS, a private limited company (org.nr. 923 665 617) headquartered in Trondheim with a secondary office in Bergen. LB Selskapet AS operates as a shared-services entity providing centralized custody (Depot) services, regulatory authority reporting (Myndighetsrapportering), and anti-money laundering and fraud-prevention functions (AHV & svindel) to the member banks. The cooperation manages approximately 150 billion NOK in aggregated customer assets, serves roughly 260,000 private and business customers across Norway through the combined branch footprint of the 17 member banks, and traces its heritage back to 1837.

The core product is a common marketing and information portal (www.lokalbank.no) and a suite of backend shared services. On the revenue side, the platform is not directly monetized to end customers; the member banks generate traditional banking income (deposits, lending, mortgages, advisory) while LB Selskapet AS is funded through internal cost allocation among the member banks. The Lokalbank member banks also hold co-ownership in six product companies spanning fund management (Borea), insurance (Brage, Frende), credit (Kredittbanken), and securities and wealth management (Norne, Verd), creating an integrated financial services ecosystem. Underlying technology is primarily delivered through Netcompany Banking Services as the core banking platform, with Usercentrics managing cookie consent on the public website.

The business model is a B2B-shared-services and channel-partnership model: LB Selskapet AS does not sell directly to retail or SMB customers; instead, it standardizes, procures, and operates joint capabilities on behalf of the 17 member banks, which retain independent customer relationships and local autonomy. The primary customer segments are private individuals and local small and medium businesses served by the member banks across Norway; the secondary, internal customer of LB Selskapet AS is the membership of 17 savings banks themselves. Pricing is not publicly disclosed and is established through internal cost allocation rather than market-priced contracts.

Name

Lokalbank

Legal name

LB Selskapet AS

Website

https://lokalbank.no

Company type

Private

Founded year

1837

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Lokalbank is a cooperative of 17 independent Norwegian savings banks coordinating shared services through LB Selskapet AS, serving roughly 260,000 private and business customers nationwide with approximately 150 billion NOK in aggregated assets.

Ownership category

akta.pro rank

Product category

Cooperative Banking Services

NAICS

Savings Institutions and Other Depository Credit Intermediation (52218)

SIC

Savings Institutions, Not Federally Chartered (6036), Services-Management Services (8741)

akta.pro primary industry

Reconciliations, Controls & Financial Operations (GL, Nostro/Vostro, Suspense) (FSABALAI)

akta.pro secondary industries

Regulatory Reporting & Compliance Operations (Ops support for reporting, audits, exams) (FSABALAM), AML/KYC, Investor Onboarding & Compliance Services (FSAAAMAE)

Keywords

• Cooperative banking services
• Shared banking infrastructure
• Custody services
• Regulatory reporting
• Anti-money laundering compliance

Headquarters

HQ city

Trondheim

HQ country

Norway

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Traditional Banking Services: As a network of savings banks, Lokalbank member banks generate revenue through traditional banking services including deposits, lending, mortgages, and financial advisory services to private individuals and businesses across Norway.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

LB Selskapet AS, the operating company of the Lokalbank cooperation, delivers shared backend services to its member savings banks, including Depotservice (custody and settlement), Myndighetsrapportering (regulatory authority reporting), and AHV-tjenester (anti-money laundering and fraud prevention). A common profiling website (www.lokalbank.no) serves as a unified marketing and information gateway for the 17 member banks, which independently serve personal and business customers with deposits, lending, mortgages, insurance, and financial advisory services.

Product overview

LOKALBANK is a collaboration between 17 independent Norwegian savings banks (sparebanker). The primary product is a joint marketing and information website (www.lokalbank.no) that promotes the member banks and their services. LB Selskapet AS, the joint operating company, provides shared backend services including custody/depot services, regulatory authority reporting, and anti-money laundering (AHV) services. The website itself does not offer financial products directly; customers are referred to individual member banks for actual banking services.

Differentiator

Problem solved

Functional benefit

Products and services

• Depotservice (Custody Services) Custody and settlement services offered by LB Selskapet AS to member savings banks, including securities custody. Targeted at independent savings banks in the LOKALBANK cooperation.
• Myndighetsrapportering (Authority Reporting) Regulatory reporting services provided by LB Selskapet AS to Norwegian financial authorities on behalf of the member savings banks.
• AHV-tjenester (Anti-Money Laundering Services) Anti-money laundering and fraud prevention services provided by LB Selskapet AS to member savings banks, including transaction monitoring and suspicious activity reporting.
• LOKALBANK Common Website (www.lokalbank.no) A common profiling and information website operated by LB Selskapet AS for the 17 member savings banks, presenting news, information, and links to each member bank's own website. The site does not offer financial products directly; customers are referred to individual member banks.

Named customers1 record

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Partnerships

Six partnerships are on record, tiered core.

• BoreacoreOthersBorea is a fund management company in which the Lokalbank member banks hold co-ownership, providing securities and investment services to customers.
• BragecoreOthersInsurance company co-owned by Lokalbank member banks, providing insurance products and services through the network.
• FrendecoreOthersInsurance partner co-owned by member banks, offering insurance solutions integrated with banking services.
• KredittbankencoreOthersCredit bank co-owned by Lokalbank member banks, providing specialized financing and credit solutions.
• NornecoreOthersSecurities company co-owned by member banks, providing securities trading and investment services.
• VerdcoreOthersSecurities company co-owned by Lokalbank member banks, offering securities and wealth management services.

Scale indicators4 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• DNB: Norway's largest universal bank and dominant incumbent across retail, SMB and capital-markets services — competes with LOKALBANK member banks for the same Norwegian customer pool.
• Handelsbanken (Norway): Swedish universal bank with a long-established Norwegian branch network emphasizing relationship banking — overlaps with LOKALBANK's relationship-driven SMB proposition.
• Nordea (Norway): Major Nordic universal bank with a substantial Norwegian retail and corporate franchise — broad incumbent competitor across all banking services offered by LOKALBANK member banks.

Direct peers

• Eika Gruppen: Norwegian alliance of local banks providing shared product, IT and infrastructure services to independent savings banks — directly comparable to LB Selskapet AS's shared-services role.
• SpareBank 1: Norwegian alliance of independent savings banks operating a shared brand, shared product companies and joint infrastructure — structurally the closest analogue to LOKALBANK's cooperative model.

Emerging players

• Skandiabanken: Norwegian digital bank focused on retail savings and investments — competes for the same customer segment LOKALBANK member banks serve, but through a digital-first model.

Others

• Netcompany Banking Services: Nordic banking technology vendor referenced inside Lokalbank — illustrates the type of third-party technology infrastructure partner comparable to LB Selskapet AS's shared IT and core-banking functions.

Regional players

• Sparebanken Øst: Norwegian savings bank operating in the eastern Norway corridor, comparable in scale and community-banking focus to several LOKALBANK member banks.
• Sparebanken Vest: Large independent Norwegian savings bank operating in western Norway, comparable in product mix and customer segments but without LOKALBANK's multi-bank cooperative structure.
• Sparebanken Sør: Independent Norwegian savings bank serving retail and SMB customers in southern Norway — overlapping customer base and product offering with LOKALBANK member banks.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInno.linkedin.com/company/lokalbank

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 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 Lokalbank