Tag Archives: Sparebank1 NordNorge

COLD CASHLESS: Sparebank NordNorge closing half of its branches, including Svalbard’s only physical bank outlet

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Sparebank1 NordNorge is closing 16 of its 31 branches, including Longyearbyen’s only physical bank location, due to increased digitalization by customers that has accelerated during the COVID-pandemic and a desire to cut costs to increase profits, the company announced Thursday.

The impacts of the closure immediately resulted in widespread harsh criticism from locals, including Longyearbyen Mayor Arild Olsen stated the matter needs to be brought to the attention of Parliament.