Kommunalbanken

Kommunalbanken
Kommunalbanken AS
Type Private
Industry Financial services
Founded 1927, 1999
Headquarters Oslo, Norway
Area served Norway
Products Loans
Parent Norwegian Ministry of Local Government (80%)
Kommunal Landspensjonskasse (20%)
Website www.kommunalbanken.no

Kommunalbanken, sometimes branded as Kommunalbanken Norway is a Norwegian bank that offers loans exclusively to the municipal and county sector. The banks portfolio was NOK 76.7 billion as of 2006, and 45 % of all municipal and county debt is though Kommunalbanken, with about 95% of all counties and municipalities being customers.[1] Included among those absent are those so wealthy from hydroelectricity production that they do not require debt to finance investments. Kommunalbanken also issues loans to Municipal Enterprises, County Enterprises and Intermunicipal Companies, all that are extensions of the liability of the municipalities and counties themselves. Kommunalbanken is a limited company owned by the Norwegian Ministry of Local Government (80%) and National Local Government Pension Fund (Kommunenes Landspensjonskasse, 20%). Before 1999 it was a Government agency called Norges Kommunalbank that was founded in 1927.[2]

References

External links


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