Question 1

What is Skudenes & Aakra?

Accepted Answer

Skudenes & Aakra is a mid-size Norwegian savings bank headquartered in Åkrehamn, Norway. The bank operates primarily in the Haugalandet region of Rogaland county, serving retail customers and SMEs. Founded in 1876, the bank ranks as the 37th largest bank in Norway with a market share of 0.22% as of 2024.

Question 2

When was Skudenes & Aakra founded?

Accepted Answer

Skudenes & Aakra Sparebank was founded in 1876. The bank has maintained its independent status as a savings bank throughout its history, building a strong reputation in the local community over nearly 150 years of operation.

Question 3

Where is Skudenes & Aakra headquartered?

Accepted Answer

Skudenes & Aakra is headquartered in Åkrehamn, Rogaland county, Norway.

Question 4

Where does Skudenes & Aakra operate?

Accepted Answer

Skudenes & Aakra operates in the Haugalandet region on the west coast of Norway. The bank maintains its headquarters in Åkrehamn and operates four additional offices throughout the region. Karmøy and neighboring municipalities make up the bank's core markets, with concentrated exposure to these local communities.

Question 5

What services does Skudenes & Aakra offer?

Accepted Answer

Skudenes & Aakra offers a comprehensive range of banking services including current accounts, credit cards, debit cards, savings accounts, time deposit accounts, consumer loans, car loans, and mortgage loans. The bank also provides insurance products directly accessible through mobile and internet banking platforms. Customers can access services through branch offices and online banking systems, with integrated insurance management capabilities.

Question 6

What makes Skudenes & Aakra unique?

Accepted Answer

Skudenes & Aakra is distinguished by its strong local presence and nearly 150 years of service to the Haugalandet region. The bank is transitioning from the Lokalbanksamarbeidet banking cooperative to the Eika Alliance, maintaining access to covered bond companies and cost advantages. In December 2024, Nordic Credit Rating assigned the bank an 'A-' long-term issuer rating with a stable outlook, citing its low risk appetite, solid capital position with a CET1 ratio of 15.0%, and strong earnings. The bank demonstrates exceptional cost efficiency and maintains a robust 123.61% loans-to-deposits ratio.

Question 7

What type of financial institution is Skudenes & Aakra?

Accepted Answer

Skudenes & Aakra is a savings bank (sparebank), a traditional Norwegian banking institution type. As a savings bank, it operates independently with unlisted Equity Capital Certificates and focuses on serving its local community. The bank ranks as the 28th largest savings bank in Norway, commanding a 0.58% share among savings banks. Savings banks in Norway emphasize local ownership, community development, and mutual benefit principles.

Skudenes & Aakra

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About Skudenes & Aakra in Norway