Tag Archives: Sparebank1 Nord-Norge

CLOSING SVALBARD’S ONLY BANK IS A REALLY BIG DEAL: Here’s why impacts are far different than for ‘remote’ mainland communities – and how locals are trying to prevent it

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The closure of Svalbard’s only bank office will cause considerable difficulties and issues for customers that people won’t suffer on the mainland. But despite overwhelming objections from local leaders, businesses and residents, along with actions such a boycott petition and politicians vowing to seek national help, one cold bottom-line fact remains: it’s a bank and as such is looking without emotion at its bottom line.