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Executive envisions savings bank giant

The acting chief executive of Gjensidige NOR, a Norwegian savings and loan, wants all of Norway’s savings banks to merge into one company. "I don’t understand why we can’t merge together to form a powerful Norwegian unit," said the executive, Olav Hytta. He added: "Together, the savings banks manage funds worth NOK 600 billion (USD 68.6 billion). That is NOK 150 billion (USD 17 billion) more than Den norske Bank, Norway’s largest bank."