Oslofjord Sparebank

What Oslofjord Sparebank does

Oslofjord Sparebank is a Norwegian retail and SME savings bank (sparebank) established in May 2003, headquartered at Inkognitogata 35 in Oslo. The bank serves 411,799 customers who received the 2025 kundeutbytte (customer dividend), a distinctive savings-bank mechanism for sharing surplus with depositors and borrowers. As a member of the Eika Alliance — a cooperative of approximately 70 Norwegian savings banks — Oslofjord operates on shared digital infrastructure including the Eika Mobilbank app, the Eika internet bank, BankID authentication, Vipps mobile payment integration, and Nets payment processing. Its product portfolio spans daily banking (Brukskonto, Visa cards, AvtaleGiro/eFaktura), lending (Boliglån, Billån, Båtlån, Eika Kredittkort), saving and investment (Sparekonto, BSU, Eika funds via Eika Kapitalforvaltning, Aksjesparekonto, Egen Pensjonskonto with self-directed profiles), insurance intermediation, and digital legal services (testament, samboerkontrakt, fremtidsfullmakt, gavebrev, juridisk førstehjelp) delivered through partner Justify AS.

Revenue is generated primarily through net interest income from the spread between lending rates (e.g., car loans at 6.25-7.95% nominal, boat loans at 8.85% nominal) and deposit rates, supplemented by transaction and account fees (international wires NOK 120-500, card issuance and replacement fees), credit card carry from Eika Kredittkort (currency markup 2.00%, cash advance fees), fund management fees (0.35-0.70% on Eika pension profiles), and affiliate referral fees from Justify legal services (NOK 1,990-3,990 per document). The bank operates a hybrid direct-to-consumer go-to-market: digital self-service via Eika Mobilbank for routine transactions paired with personal financial advisors for complex products such as mortgages, fund selection, and pension planning. Distribution includes a physical branch in Oslo, extended-hours telephone banking (07:00-21:00 weekdays, 09:00-21:00 weekends), and digital legal services via Justify.

The bank is in the final stages of a merger with Sparebanken Norge — itself formed from the recent combination of Sparebanken Vest and Sparebanken Sør — planned to complete around 1 December 2025, after which the entity operates under the Sparebanken Norge brand. A savings bank foundation (sparebankstiftelse) is being established to own equity certificates in the combined group and fund charitable purposes in Oslo and Akershus. AI capabilities are limited to AI-assisted case intake within the Justify legal services integration; the bank does not operate proprietary AI models. The bank is GDPR-compliant, AML/CFT-compliant, and operates under the Bankenes Sikringsfond deposit guarantee scheme.

Name

Oslofjord Sparebank

Legal name

Oslofjord Sparebank

Website

https://oslofjordsparebank.no

Company type

Private

Founded year

2003

Operating status

Operating

Headcount range

11–50 employees

Short description

Oslofjord Sparebank is a Norwegian retail and SME savings bank serving 411,799 customers, operating on Eika Alliance shared infrastructure and merging into Sparebanken Norge from December 2025.

Ownership category

akta.pro rank

Headquarters

HQ city

Oslo

HQ country

Norway

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Net Interest Income: Primary revenue stream from the spread between interest earned on lending (mortgages, car loans, boat loans, etc.) and interest paid on deposits (savings accounts, BSU). As a Norwegian savings bank (sparebank), interest income from mortgage and other retail lending constitutes the core revenue.
2. Fee and Commission Income: Fees from payment services (international transfers, BankID reissuance, giro transactions), card services (annual fees, ATM withdrawals, card replacement), and account services. Also includes management/placement fees from fund savings.
3. Legal Services Referrals: Referral fees from offering digital legal services (testament, samboerkontrakt, fremtidsfullmakt) via partner Justify AS. The bank facilitates customer access to these services.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core offering

Oslofjord Sparebank is a Norwegian savings bank (sparebank) that provides full-range retail and small-business banking services to Norwegian consumers, including daily banking (current accounts, debit/credit cards, mobile and internet banking via the Eika platform), savings (regular, BSU youth housing savings, micro-savings), lending (mortgages, car, boat, cabin, senior loans), investments (Eika-branded funds, Aksjesparekonto), pension (Egen Pensjonskonto with self-selected profiles), insurance intermediation, and digital legal services (wills, cohabitation agreements, advance directives, gift letters via Justify). A signature feature is the kundeutbytte (customer dividend) program that distributes portions of annual surplus back to customers with deposits and loans.

Product overview

Oslofjord Sparebank (branded as Sparebanken Norge from December 2025) is a Norwegian retail bank operating as part of the Eika alliance. Its product portfolio is structured around four core pillars: daily banking (Mobilbank, Brukskonto, Bankkort, Vipps, AvtaleGiro/eFaktura), lending (Boliglån, Billån, Kredittkort), saving & investing (Sparekonto, BSU, Fondssparing via Eika Kapitalforvaltning, Aksjesparekonto, Egen Pensjonskonto), and ancillary services (legal services via Justify, insurance via Eika, Kundeutbytte). The core digital experience runs through the Eika Mobilbank app and online bank, with supplementary apps like Smartspar for fund and pension management. Physical and non-digital alternatives are maintained for customers who need them.

Differentiator

Problem solved

Functional benefit

Products and services

• Brukskonto (Current Account) Standard current/deposit account serving as the primary everyday banking account for receiving income and making daily payments; basis for AvtaleGiro and eFaktura services. Targeted at Norwegian personal customers.
• Sparekonto (Savings Account) Savings account with higher interest than a current account; offered in unlimited-withdrawal and limited-withdrawal variants (the latter at a higher rate). For Norwegian retail customers.
• BSU (Boligsparing for Ungdom) Tax-advantaged youth housing savings account for customers under 34 years of age; best interest rate, 10% annual tax deduction up to NOK 2,750/year, favorable mortgage terms when purchasing a first home. Max annual deposit NOK 27,500; total cap NOK 300,000.
• BSU Pluss Additional savings tier available after the standard BSU cap is reached, allowing further tax-advantaged housing savings beyond the BSU annual and total limits.
• Barne- og ungdomskonto (Children and Youth Account) Banking and savings accounts for children and youth, including a no-annual-fee youth Visa Electron debit card and an opening bonus of NOK 250 for new child customers.
• Bankkort (Visa Classic / Visa Electron Debit Card) Visa-branded debit cards (Visa Classic and Visa Electron) for in-store and online purchases, domestic and international ATM withdrawals, and contactless (Pay) payments. Annual fee 275 NOK; new card on loss 175 NOK; free domestic purchases and ATM withdrawals in Norway.
• Eika Kredittkort (Eika Credit Card) Visa-branded credit card issued by Kredittbanken ASA and distributed by the bank. No annual fee, free purchases, currency markup 2.00%, nominal rate 23.46% (effective 26.2%), up to 45 days interest-free, optional ID-theft insurance at NOK 25/month.
• Boliglån (Mortgage Loan) Mortgage loans for purchasing, refinancing, or building residential property, including green mortgages (grønt boliglån) with preferential rates for energy-efficient homes, financing certificates, refinancing, top-up loans, and framework loans (rammelån). For Norwegian homeowners and first-time buyers.
• Billån (Car Loan, including Green Car Loan) Vehicle loans for cars, motorcycles, ATVs, snowmobiles, boats, and motorhomes. Standard car loan nominal rates 6.25%-7.95% (effective 8.59%-10.42%); green car loan nominal rates 6.05%-7.65% (effective 8.23%-9.95%) for environmentally friendly vehicles. Establishment fee NOK 2,500-3,000; monthly fee NOK 85.
• Båtlån (Boat Loan) Boat loan product for Norwegian consumers purchasing boats. Nominal rate 8.85% (effective 11.65%); establishment fee NOK 3,800; requires minimum 20% equity.
• Hyttelån (Cabin Loan) Loan product for financing the purchase or refinancing of a cabin (hytte). Listed as a separate lending product under the bank's loan offering.
• Seniorlån (Senior Loan) Senior-focused loan product listed as part of the bank's loan offering for older Norwegian customers.
• Fondssparing (Fund Savings via Eika) Range of managed investment funds (Eika Alpha, Eika Balansert, Eika Global, Eika Norge, Eika Norden, Eika Kreditt, Eika Obligasjon, Eika Rente+, Eika Spar, Eika Utbytte, Eika Egenkapitalbevis) plus 100+ third-party funds, available for lump-sum or recurring monthly savings via mobile bank; managed by Eika Kapitalforvaltning AS.
• Aksjesparekonto (Share Savings Account) Tax-advantaged investment account allowing customers to buy, sell, and switch equity funds (minimum 80% equities) without triggering tax on unrealized gains. Tax is paid only upon withdrawal.
• Egen Pensjonskonto (EPK) med Eika Selvvalgte profiler Self-directed occupational pension account that consolidates all private-sector pension capital (current and previous employers) in one place. Four risk profiles available: Eika 100% Aksjer, Eika Livssyklus, Eika Moderat (0.58% fee), Eika Forsiktig (0.35% fee). 100% Aksjer and Livssyklus at 0.7% management fee. Managed by Eika Kapitalforvaltning.
• Smartspar (Smart Save App) Standalone savings app on iOS and Android that integrates with the bank's services, allowing customers to manage fund savings, automatic savings increases, and pension accounts without using the main mobile bank. Includes micro-savings (round-up) functionality.
• Forsikring (Insurance, via Eika) Insurance products brokered through the Eika Alliance, including home contents (innboforsikring), building (husforsikring), travel, youth (ung), and personal accident insurance.
• Fremtidsfullmakt (Advance Power of Attorney via Justify) Digital advance power of attorney (fremtidsfullmakt) allowing customers to designate a trusted person to act on their behalf if they become incapacitated. Single 3,490 NOK; mutual 3,990 NOK. Quality-assured by attorney; secure storage included; free changes within 12 months.
• Testament (Digital Will via Justify) Digital will creation and maintenance service with attorney quality assurance, secure storage, and automatic notification to heirs upon death. 3,490 NOK; free changes within 12 months.
• Samboerkontrakt (Cohabitation Agreement via Justify) Digital cohabitation agreement service for couples to define ownership shares, expense distribution, and financial terms during and after the relationship. 1,990 NOK; attorney quality-assured; free changes within 12 months.
• Gavebrev (Digital Gift Letter via Justify) Digital gift letter service for documenting monetary gifts or inheritance advances (forskudd på arv). 1,990 NOK; unlimited gift letters for 30 days included; quality-assured by attorney; digital BankID signing; secure storage.
• Juridisk Førstehjelp (Legal First Aid via Justify) Digital legal triage and guidance service: AI-assisted case intake, written legal assessment from a licensed attorney, and 15-minute follow-up call. Fixed price 1,990 NOK per case.

Quantifiable outcome

• 411,799 customers received kundeutbytte (customer dividend) payout for 2025
• +2 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

AI capability2 records

Feature3 records

Partnerships

Seven partnerships are on record, tiered core.

• Sparebanken NorgecoreStrategic or Co-development Partner · 1 January 2025Oslofjord Sparebank is merging with Sparebanken Norge (new name from Sparebanken Vest and Sparebanken Sør merger). The merger is planned for completion around December 1, 2025, pending regulatory approvals. From this date, the bank will operate under the name Sparebanken Norge. A savings bank foundation (sparebankstiftelse) will be established to own equity certificates and fund charitable causes in Oslo and Akershus.
• Eika Alliansen (Eika)coreStrategic or Co-development PartnerOslofjord Sparebank is a member of the Eika Alliance, a cooperative of approximately 70 Norwegian savings banks. The alliance provides shared digital banking infrastructure (mobile app, internet bank), fund distribution (Eika Kapitalforvaltning AS), insurance intermediation, product development, and collective marketing. Eika provides core banking technology, fund management, and brand support.
• Justify AScoreChannel Partner/ Reseller/ DistributorJustify AS provides digital legal services (testament, samboerkontrakt, fremtidsfullmakt, gavebrev, juridisk førstehjelp) integrated into the bank's website. The bank refers customers to Justify's platform for self-service legal document creation, quality-assured by attorneys. Justify handles document creation, storage, and delivery.
• Eika Kapitalforvaltning AScoreTechnology or IntegrationManages Eika-branded investment funds (Eika Alpha, Eika Balansert, Eika Global, Eika Norge, Eika Norden, Eika Kreditt, Eika Spar, Eika Utbytte, Eika Egenkapitalbevis) available through the bank's platform. Also manages the Eika Selvvalgt (self-selected) pension profiles (100% Aksjer, Livssyklus, Moderat, Forsiktig). Provides fund administration, management, and sustainability/ESG oversight.
• BankID / BankID AScoreTechnology or IntegrationBankID is the primary identity verification and authentication solution used by Norwegian banks. Oslofjord Sparebank uses BankID for login to mobile and internet banking, transaction signing, document signing, and identity verification. The bank actively educates customers on BankID security (Bankvettreglene).
• Vipps AScoreTechnology or IntegrationVipps is Norway's dominant mobile payment platform. The bank offers Vipps integration for mobile payments ('tæpping' / contactless Vipps payments), allowing customers to pay via the Vipps app using their linked bank account.
• Nets AS (now part of Nexi/Worldline)coreTechnology or IntegrationNets processes payment transactions including card payments, giro transactions, and direct debit (AvtaleGiro). The bank uses Nets infrastructure for payment processing and card services. Also handles the bank's fee collection for various payment services.

Scale indicators3 records

Recent moves8 records

Expansion highlights6 records

Market position

Competitive moat5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/oslofjord-sparebank

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 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 Oslofjord Sparebank