How it started
History
The Bank of Greenland was founded by a number of Danish banks on 26 May 1967, in the period when Greenland was a province of Denmark. The founding banks were Privatbanken, Danske Bank, Kjøbenhavns Handelsbank, and an organization of local banks, provincial and Copenhagen-based. Operations started in Nuuk on 1 July 1967, with branches in Ilulissat, Sisimiut, and Qaqortoq following in 1985, and in Maniitsoq in 1989.
It merged with Nuna Bank (formerly Bikuben) on 8 June 1985, with capital of 120 million Danish krone (DKK), retaining the name Grønlandsbanken, and becoming the only commercial bank in the country. Føroya Banki, which has its headquarters on the Faroe Islands, bought Sparbank's Greenland branches in 2010, and established itself as a competitor to the Bank of Greenland.
From Wikipedia’s article on Bank of Greenland, shared under CC BY-SA 4.0.2