Overview of Banks in Greenland
Currently, there are only two banks in Greenland. One is the Bank of Greenland, which is the only local commercial bank on the island following its merger with Nuna Bank in 1997. Greenland is the world’s largest island and is an autonomous constituent country within the Kingdom of Denmark. Currently, Denmark is responsible for financial regulation and supervision of the island.
Moody’s outlook on the Danish banking sector is stable, as they expect that solid operating conditions will be increasingly supportive of the domestic banks’ performance over the next 12 to 18 months.
For anyone considering a career in banking in Greenland, this list of the top bnks in Greenland is a helpful guide on where to start. To learn more, see our lists of financial institutionsCompaniesLists of the main players in corporate finance. We've got lists of the most important financial services companies, banks, institutions, accounting firms, and corporations in the industry. Browse these guides to prepare for a career in financial services and start networking today to accelerate your career.
Top Banks in Greenland include:
Bank of Greenland
The Bank of Greenland was founded in 1967 by a group of Danish banks, which consisted of Privatbanken, Den Danske Bank, Kjøbenhavns Handelsbank, members of the Danish Association of Provincial Banks, members of the Association of Banks in Copenhagen of 1920, and Andelsbanken.
Headquartered in Nuuk, the bank provides commercial services, as well as financial products and services such as loans, specialized and automated deposits, and property trading and administration. It employs 115 staff as of 2016. It works with KNI/Post Greenland to offer basic banking services in towns and settlements on the island where it does not operate a branch.
In 2016, the bank reported total assets US$954 million and a net profit of US$12 million.
BankNordik
BankNordik is a Faeroese-based full-service bank that operates a branch in Greenland. The bank provides retail banking, asset management, and corporate banking services. It holds a 40% market share in the Faroe Islands, being one of only two full-service banking institutions on the island.
In February 2010, BankNordik purchased 12 branches of Sparbank in Greenland.
Careers in investment banking
To break into investment banking,JobsBrowse job descriptions: requirements and skills for job postings in investment banking, equity research, treasury, FP&A, corporate finance, accounting and other areas of finance. These job descriptions have been compiled by taking the most common lists of skills, requirement, education, experience and other there are several important things to focus on. These include networking, resumeInvestment Banking ResumeInvestment banking resume template. Learn how to write an investment banking resume (Analyst or Associate) with CFI's free guide and resume template. The IB resume is unique. It’s important to tailor your resume to the industry standard to avoid being immediately deleted, experience, and financial modeling skillsFinancial Modeling SkillsLearn the 10 most important financial modeling skills and what's required to be good at financial modeling in Excel. Most important skills: accounting. To learn more, explore our interactive career map….
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Additional resources
This has been CFI’s guide to the top banks in Greenland. For anyone looking for a career in banking, this list is a great place to start your networking. Please also see these additional resources:
- Top 10 banks in BelgiumTop Banks in BelgiumTop banks in Belgium. There are just over 140 banks that operate in Belgium. The country’s banking system is considered one of the most sophisticated and liberalized in the world. Belgium is one of the pioneers of a cashless society, with 90% of transactions in the country done electronically.
- Top 10 banks in DenmarkTop Banks in DenmarkThe Danish banking sector is characterized by many small institutions and a few international groups. As of 2016, there are 110 banks in Denmark, of which are 81 are domestic banks and 29 are foreign-controlled banks. Denmark’s banking sector is relatively large. Based on the ratio of consolidated banking assets to GDP, the sector is three times bigger than the national economy.
- Investment banking interview questionsInterviewsAce your next interview! Check out CFI's interview guides with the most common questions and best answers for any corporate finance job position. Interview questions and answer for finance, accounting, investment banking, equity research, commercial banking, FP&A, more! Free guides and practice to ace your interview
- Walk me through a DCFWalk me through a DCFThe question, walk me Through a DCF analysis is common in investment banking interviews. Learn how to ace the question with CFI's detailed answer guide. Build a 5-year forecast of unlevered free cash flow, calculate a terminal value, and discount all those cash flows to present value using WACC.
- Financial modeling guideFree Financial Modeling GuideThis financial modeling guide covers Excel tips and best practices on assumptions, drivers, forecasting, linking the three statements, DCF analysis, more
