Morrow Bank ASA ("The Bank") has entered into an agreement to sell a portfolio of Finnish non-performing credit card loans (NPL) to the debt collection agency Kredinor, representing a gross book value of approximately EUR 9 million. The transaction will reduce the Bank’s NPL exposures, improve capital ratios and will not impact the Bank's profit, confirming the valuation of the NPLs. The transaction is expected to close in Q2 2025.
For further information, please contact:
Eirik Holtedahl, CFO
tel: +47 96912291
email: ir@morrowbank.com
About Morrow Bank
Morrow Bank is a Nordic niche bank offering personal loans, credit cards and deposit accounts to consumers. The target group is creditworthy individuals with stable personal finances and no payment remarks. Credit risk is managed largely by automated processes for credit assessment and underwriting. The Bank has a diversified and balanced distribution model utilizing both public and proprietary channels. Operational efficiency and low cost are a foundation for Morrow Bank and are enabled by centralized operations, modern systems and digital set-up. To learn more, visit ir.morrowbank.com
About Kredinor
Kredinor is a full-service debt collection company that offers services in two main categories, Credit Management Services and Portfolio Investments. Kredinor operates in Norway, Sweden, Denmark, and Finland and is regarded as the market leader in its industry.
This information is considered to be inside information pursuant to the EU Market Abuse Regulation article 7 and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. This stock exchange announcement was published by Henning Fagerbakke, Head of Finance, Morrow Bank ASA, on 22 April 2025 at 17:00 CEST.