The BANK of Greenland

Commercial bank in Nuuk, Greenland

GrønlandsBANKEN A/SCompany type| Aktieselskab

|

Traded as

| Nasdaq Copenhagen: GRLA
ISIN| DK0010230630
Industry| Financial services
Founded| 1967
Headquarters| Nuuk, Greenland

Key people

| Gunnar Í Liða (Chairman),[1] Martin Kviesgaard (CEO)[2]
Products| Banking, insurance, investment management

Net income

|  DKK 326.5 million (2020)[3]
Total assets|  DKK 7.4 billion (2020)[3]

Number of employees

|  136 (FTE, end 2020)[3]
Website| banken.gl
The Bank of Greenland headquarters (right) are located in the Nuuk Centrum.

The BANK of Greenland (Danish: GrønlandsBANKEN) is one of two commercial banks in Greenland, listed on the Copenhagen Stock Exchange as GRLA,[4] with 2,700 shareholders in 2017.[5] Headquartered in Nuuk,[6] the bank had 118 employees in 2017.[5]

## History

[edit]

The Bank of Greenland was founded on 26 May 1967 by a number of Danish banks, during the era when Greenland was still a province of Denmark. The founding banks were Privatbanken, Danske Bank, Kjøbenhavns Handelsbank, and an organization of local banks, provincial and Copenhagen-based.[7] Operations started in Nuuk on 1 July 1967, while local branches in Ilulissat, Sisimiut, and Qaqortoq followed in 1985, and in Maniitsoq in 1989.[7]

On 8 June 1985 the bank merged with Nuna Bank (formerly Bikuben), with the capital of 120 million Danish krone (DKK), retaining the name of Grønlandsbanken, and becoming the only commercial bank in the country.[7]

Later, the BankNordik, which has its headquarters on the Faroe Islands, established itself as a competitor with an office in Nuuk, Greenland (BankNordik also has offices in the Faroe Islands).

## Operations

[edit]

Ilulissat branch

The Bank of Greenland provides commercial services, as well as products and services for private customers such as loans, specialized and automated deposits, and property trading and administration. With 50,000 customers,[5] the Bank of Greenland has branches in major towns in Greenland, while bank operations in small settlements are handled via the integrated Post Greenland offices in the Pilersuisoq all-purpose stores.[7]

## Banca Transilvania deal

[edit]

The Romanian Banca Transilvania offered in the beginning of 2018 DKK 1.14 Billion for the Bank of Greenland. The Bank of Greenland did not respond to this offer.

## See also

[edit]

* Companies portal
* Banks portal

* Economy of Greenland
* List of banks in Greenland

## References

[edit]

Wikimedia Commons has media related to Bank of Greenland.

1. ^ "Board of Directors". BANK of Greenland, Official Website. Retrieved 9 May 2018.
2. ^ "Executives". The BANK of Greenland, Official Website. Retrieved 9 May 2018.
3. ^ a b c "ANNUAL REPORT 2020" (PDF). The BANK of Greenland. 1 March 2021. Retrieved 17 November 2021.
4. ^ "GrønlandsBANKEN (GRLA:DC)." Archived 2012-09-28 at the Wayback Machine Business Week. (retrieved 5 Feb 2010)
5. ^ a b c "About us". The BANK of Greenland, Official Website. Retrieved 9 May 2018.
6. ^ "The BANK of Greenland". The BANK of Greenland, Official Website. Retrieved 9 May 2018.
7. ^ a b c d "History". Bank of Greenland, Official Website. Retrieved 9 May 2018.

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Companies of Greenland

* Air Greenland
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* AG
* Atuagkat Bookstore
* Brugseni
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* Nanoq Media
* NUNAOIL
* Nuup Bussii
* Pilersuisoq
* Pisiffik
* Sermitsiaq
* Royal Arctic Line
* Royal Greenland
* Tusass
* The BANK of Greenland
* Upernavik Seafood

* v
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Nuuk

Districts and neighborhoods|

* Centrum
* Nuussuaq
* Old Nuuk
* Qernertunnguit
* Qinngorput
* Quassussuup Tungaa

Institutions|

* Atuagkat Bookstore
* Bank of Greenland
* Greenland High Court
* KNR
* KANUKOKA
* NAPA
* Nanoq Media
* Queen Ingrid's Hospital
* Parliament of Greenland
* Pisiffik
* Public and National Library of Greenland
* Sermitsiaq
* Statistics Greenland
* University of Greenland

Landmarks|

* Art Museum of Nuuk
* Blok P
* Greenland National Museum
* Hans Egede Church
* Hans Egede House
* Kalaaliaraq Market
* Katuaq
* Moravian Brethren Mission House
* Nuuk Cathedral
* Nuuk Center
* Statue of Hans Egede

Sport|

* 2016 Arctic Winter Games
* Godthåbhallen
* Inussivik
* Nuuk Marathon
* Nuuk Stadium
* Arktisk Stadion

Transport|

* Aqqusinersuaq
* Air Greenland
* Arctic Umiaq Line
* Nuuk Airport
* Nuuk Port and Harbour
* Nuup Bussii
* Royal Arctic Line
* Royal Greenland

Tourism|

* Hotel Hans Egede
* Nuuk Tourist Office
* Seamen's Home

* v
* t
* e

Ilulissat

Institutions|

* Avannaata Municipality
* Halibut Greenland
* Royal Greenland

Landmarks|

* Ilulissat Art Museum
* Ilulissat Icefjord
* Jakobshavn Glacier
* Knud Rasmussen's Museum
* The Icefjord Centre
* Zion's Church

Sport|

* Arctic Midnight Orienteering
* Arctic Palerfik
* Cecilieløbet
* Ilulissat Hallen
* Kangia Race

Transport|

* Arctic Umiaq Line
* Air Greenland
* Icelandair
* Disko Line
* Ilulissat Airport
* Port of Ilulissat
* Royal Arctic Line

Districts & Villages|

* Ilimanaq
* Rodebay
* Qeqertaq
* Saqqaq

Tourism|

* Greenland Tours
* Hotel Arctic
* Hotel Hvide Falk
* Hotel Icefiord
* Ilulissat Tourist Nature
* Ilulissat Water Taxi
* Ilulissat XPRESS
* The Glacier Shop
* World of Greenland

* v
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* e

Greenland articles

* Greenland is an autonomous constituent country of the Kingdom of Denmark

History|

* Timeline
* Paleo-Eskimo
* Dorset culture
* Thule people
* Norse Colonization
* Eastern Settlement
* Western Settlement
* Language
* Skræling
* Hans Egede
* Treaty of Kiel
* Erik the Red's Land
* Fridtjof Nansen Land
* World War II
* Thule accident
* County of Greenland
* Home rule
* Autonomy (self-rule)
* Cartographic expeditions

Geography|

* Climate
* change
* Fjords
* Geology
* Glaciers
* Ice sheet
* Islands
* by area
* Mountains
* National park
* Rivers
* Straits
* Towns and villages
* Wildlife

Politics|

* Administrative divisions
* Elections
* Independence movement
* Foreign relations
* High Commissioner
* Parliament
* Law enforcement
* LGBT rights
* Military
* Political parties
* Ruling monarchs
* Political leader
* Governor (1728–1730, 1925–1979)
* Inspector (1782–1924)
* Prime Minister (1979–current)

Economy|

* Bank
* Companies
* Krone (currency)
* Fishing industry
* Mining
* National Bank
* Taxation
* Telecommunications
* Tourism
* Transport

Society|

* Demographics
* Inuit
* Inughuit
* Kalaallit
* Tunumiit
* Danes
* Danish
* Notable individuals
* artists
* Inuit
* Suicide

Culture|

* Art
* Cuisine
* Hunting
* Jante Law
* Mythology
* Language
* Music
* Public holidays
* Religion
* Sports

Symbols|

* Coat of arms
* Flag
* National (civic) anthem
* Royal anthem

* Outline
* Index

* Category

64°10′31″N 51°44′19″W﻿ / ﻿64.17528°N 51.73861°W﻿ / 64.17528; -51.73861
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