Retail Bank

Gjensidige Bank is an online bank that will contribute to the sale of a wide range of products to, and loyalty among, general insurance customers in the retail market in Norway. The bank offers housing loans, car financing, unsecured loans, credit cards, day-to-day banking services and savings products. Distribution largely takes place online, and customer service is available by phone, via chat and in Gjensidige’s financial offices. Car financing is also distributed through car dealers.


Sales to affinity group customers in the general insurance business, the sale of car insurance and savings products were given high priority in 2017. Growth in lending was high, and loans to the Group’s general insurance customers accounted for 75 per cent of the bank’s lending volume at year-end.


Gjensidige Bank shall first and foremost support the Norwegian general insurance business by contributing to a broader product range, and increased loyalty among existing general insurance customers in Norway.

The fulfilment of this purpose will continuously be assessed against the capital required for the bank. The bank will continue to offer a wide range of financial services at attractive terms, through customer-friendly digital solutions, Gjensidige’s branch offices and cooperating car dealers, and shall contribute to the Group’s growth and profitability.

The banking market in Norway is characterised by considerable competition and an increasing number of competitors. Gjensidige Bank will continue to offer competitive terms in segments that are strategically important to the Group.

Key figures Retail Bank

NOK million2017 2016 2015 

Net interest income

992.3 797.3 721.2

Total income

1,035.2 915.0725.2 

Write-downs and losses

(10.3) (69.5) (62.3)

Profit/(loss) before tax expense

612.3 439.1  303.6


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Net interest income in per cent = net interest income/average total assets