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Sparebanken Hedmark, Bank 1 Oslo Akershus complete merger

The merger of Norwegian lenders Sparebanken Hedmark and Bank 1 Oslo Akershus AS is now complete.

The completion came after the banks received approval from Norwegian regulator Finanstilsynet for their planned merger in February. The merged lender will be known as SpareBank 1 Østlandet, Sparebanken Hedmark said March 31.

Sparebanken Hedmark was listed as the acquiring bank, with CEO Richard Heiberg holding the same role in the enlarged entity. The merged bank will continue to operate with its head office in Hamar, in eastern Norway, and a decentralized branch structure.