Morrow Bank ASA (“The Bank”) has entered into an agreement to sell a portfolioof Finnish non-performing credit card loans (NPL) to the debt collectionagencyKredinor, representing a gross book value of approximately EUR 9 million. Thetransaction will reduce the Bank’s NPL exposures, improve capital ratios andwill not impact the Bank’s profit, confirming the valuation of the NPLs. Thetransaction is expected to close in Q2 2025.
For further information, please contact:Eirik Holtedahl, CFOtel: +47 96912291email: ir@morrowbank.com
About Morrow Bank Morrow Bank is a Nordic niche bank offering personal loans, credit cards anddeposit accounts to consumers. The target group is creditworthy individualswithstable personal finances and no payment remarks. Credit risk is managedlargelyby automated processes for credit assessment and underwriting. The Bank has adiversified and balanced distribution model utilizing both public andproprietary channels. Operational efficiency and low cost are a foundation forMorrow Bank and are enabled by centralized operations, modern systems anddigital set-up. To learn more, visit ir.morrowbank.com
About KredinorKredinor is a full-service debt collection company that offers services in twomain categories, Credit Management Services and Portfolio Investments.Kredinoroperates in Norway, Sweden, Denmark, and Finland and is regarded as the marketleader in its industry.
This information is considered to be inside information pursuant to the EUMarket Abuse Regulation article 7 and is subject to the disclosurerequirementspursuant to section 5-12 of the Norwegian Securities Trading Act. This stockexchange announcement was published by Henning Fagerbakke, Head of Finance,Morrow Bank ASA, on 22 April 2025 at 17:00 CEST.
https://newsweb.oslobors.no/message/644080