Eika Gruppen, formerly Terra-Gruppen, branded as Terra is a strategic alliance among 77 local Norwegiansavings banks that co-ordinates work within the areas defined as falling within the alliance. The group supplies products and services to banks and other actors within the financial sector. The services of Eika include product development, procurement of services and products relating to information technology and payment processing, project management, training and expertise development. The financial companies provides a wide range of financial products, including securities, insurance and real estate agencies, financing and debit cards and credit cards. The alliance has its headquarters in Oslo, Norway, and the ownerbanks has a total assets of NOK 250 billion.
Aktiv Eiendomsmegling (real estate agencies incl franchise)
Aktiv Eiendomsoppgjør (real estate services)
Eika BoligKreditt (mortgage finance)
Eika Kredittbank (credit and debit cards, consumer finance)
Eika Kapitalforvaltning (funds manager)
Eika Forsikring (insurance)
Historyedit
The alliance was founded in 1997 as Eika Gruppen as a consequence of the new trends in Norwegian banking. Previously there had been a massive merging among Norwegian savings banks, resulting in a number of regional savings banks, the largest of these being Sparebanken NOR that was a merger between a total of more than one hundred banks. In 1996 a lot of the other large, regional banks formed an alliance called SpareBank 1 to provide an umbrella for their operations. At the same time both the large savings banks and the commercial banks had two new trends; a new technological platform with online banking and the banks providing the total spectre of financial services, also including savings, securities and insurance. Also the small, independent savings banks who had not merged needed to provide these services. As a result they formed Eika Gruppen. Since 1997, the group has acquired subsidiaries to perform a larger and larger sprectre of products. The alliance changed its name to Terra-Gruppen in 2000.
Konsernsjef (Stein Ole Larsen) and visekonsernsjef (Lise Vedde-Fjærestad) resigned in 2012, on the same day[1] that media reported about Finanstilsynet's criticism of the company.[2]
In 2012 the board resolved to return to the original Eika name and this was implemented from 21 March 2013.[3]
Referencesedit
^I går ble det kjent at Finanstilsynet retter ny, krass kritikk mot finanshuset Terra - fem år etter den såkalte Terra-skandalen. Innholdet i den foreløpig ikke-offentlige rapporten var så knusende at Terra-Gruppens toppledelse i går valgte å gå på dagen.
^Lynum, Sissel (21 March 2013). "Lokale sparebanker dropper skandalenavn" (in Norwegian). Adresseavisen. Retrieved 12 April 2014.
January 01, 1970
eika, gruppen, formerly, terra, gruppen, branded, terra, strategic, alliance, among, local, norwegian, savings, banks, that, ordinates, work, within, areas, defined, falling, within, alliance, group, supplies, products, services, banks, other, actors, within, . Eika Gruppen formerly Terra Gruppen branded as Terra is a strategic alliance among 77 local Norwegian savings banks that co ordinates work within the areas defined as falling within the alliance The group supplies products and services to banks and other actors within the financial sector The services of Eika include product development procurement of services and products relating to information technology and payment processing project management training and expertise development The financial companies provides a wide range of financial products including securities insurance and real estate agencies financing and debit cards and credit cards The alliance has its headquarters in Oslo Norway and the ownerbanks has a total assets of NOK 250 billion Eika Gruppen ASCompany typePrivateIndustryFinancial servicesFounded1997 27 years ago 1997 HeadquartersOslo NorwayArea servedNorwayKey peopleHege Beate Toft Karlsen CEO Oivind Larsen Chairman ProductsSecurities Insurance Real estate agencies Financing Debit cards and Credit cardsSubsidiaries editAktiv Eiendomsmegling real estate agencies incl franchise Aktiv Eiendomsoppgjor real estate services Eika BoligKreditt mortgage finance Eika Kredittbank credit and debit cards consumer finance Eika Kapitalforvaltning funds manager Eika Forsikring insurance History editThe alliance was founded in 1997 as Eika Gruppen as a consequence of the new trends in Norwegian banking Previously there had been a massive merging among Norwegian savings banks resulting in a number of regional savings banks the largest of these being Sparebanken NOR that was a merger between a total of more than one hundred banks In 1996 a lot of the other large regional banks formed an alliance called SpareBank 1 to provide an umbrella for their operations At the same time both the large savings banks and the commercial banks had two new trends a new technological platform with online banking and the banks providing the total spectre of financial services also including savings securities and insurance Also the small independent savings banks who had not merged needed to provide these services As a result they formed Eika Gruppen Since 1997 the group has acquired subsidiaries to perform a larger and larger sprectre of products The alliance changed its name to Terra Gruppen in 2000 In 2007 Terra Gruppen received a major blow in the Terra Securities scandal where former Terra Securities had sold very questionable complex and geared investments to eight municipalities On November 28 2007 Terra Securities lost all concessions from the Financial Supervisory Authority of Norway and filed for bankruptcy the same day As a consequence CEO Ola Sundt Ravnestad retired as CEO following board member Sverre Leiro who had retired a week earlier New CEO was Stein Ole Larsen Konsernsjef Stein Ole Larsen and visekonsernsjef Lise Vedde Fjaerestad resigned in 2012 on the same day 1 that media reported about Finanstilsynet s criticism of the company 2 In 2012 the board resolved to return to the original Eika name and this was implemented from 21 March 2013 3 References edit I gar ble det kjent at Finanstilsynet retter ny krass kritikk mot finanshuset Terra fem ar etter den sakalte Terra skandalen Innholdet i den forelopig ikke offentlige rapporten var sa knusende at Terra Gruppens toppledelse i gar valgte a ga pa dagen Terra sjefen gar pa dagen Lynum Sissel 21 March 2013 Lokale sparebanker dropper skandalenavn in Norwegian Adresseavisen Retrieved 12 April 2014 Retrieved from https en wikipedia org w index php title Eika Gruppen amp oldid 1077063976, wikipedia, wiki, book, books, library,
