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 institutions.
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 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, there are several important things to focus on. These include networking, resume, experience, and financial modeling skills. To learn more, explore our interactive career map….
For banking careers, you will have a significant edge over the competition with our financial modeling courses.
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: