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Retail Bank

Gjensidige Bank is a digital bank that offers digital banking services, housing loans, car and consumer financing, banking and saving in funds. The bank cooperates closely with many partners, dealers and agents. Distribution largely takes place online, but also by phone, chat and in Gjensidige’s financial offices.


In 2018, Gjensidige Forsikring entered into an agreement on selling Gjensidige Bank to Nordea. The sale is expected to take place in the first quarter of 2019. The parties entered into a cooperation agreement on the distribution of banking and insurance services in Norway. The sale of the bank, combined with the mutual distribution agreement will give Gjensidige the opportunity to increase its focus on its core business, while still being able to offer customers a combination of insurance and banking services. Nordea will also distribute Gjensidige’s insurance policies to its customers in Norway.

Growth in car financing, improvements in consumer financing and sales of a wide range of products to members of the bank’s partner organisations were high priorities in 2018. Competitive prices, good digital solutions and efficient customer service resulted in strong lending growth during the year.


Gjensidige Bank will continue to focus on sustainable and profitable growth. Improving customer processes supported by digitalisation will be an important part of the bank’s value proposition.

Key figures Retail Bank

NOK million 2018 20172016 

Net interest income


Total income

 1,005.61,035.2  915.0

Write-downs and losses


Profit/(loss) before tax expense

447.3  612.3439.1


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*) Defined as alternative performance measure (APM). APMs are described on in document named APMs Gjensidige Bank 2018