Bank Norwegian

Last updated
Bank Norwegian – a branch of NOBA Bank Group
Native name
Bank Norwegian, en filial av NOBA Bank Group AB (publ)
Company type Privately held company
IndustryBank
Founded2007
Headquarters Fornebu, Norway
Area served
 Norway
Sweden
Finland
Denmark
Germany
Spain
Key people
ProductsConsumer loan, deposit and credit card
RevenueIncrease2.svg NOK 1,5 billion (2015) [1]
54,100,000 Norwegian krone  OOjs UI icon edit-ltr-progressive.svg
Increase2.svg NOK 539 million (2015) [1]
Total assets Increase2.svg NOK 17,5 billion (2015) [1]
Total equity Increase2.svg NOK 1,7 billion (2015) [1]
Number of employees
160 (2022) [1]
Parent NOBA Bank Group AB (publ)
Website banknorwegian.no

Bank Norwegian is a Norwegian digital bank which provides loans, credit cards and savings accounts to consumers. [2] The company was founded in November 2007 and is headquartered at Fornebu, Norway. It has customers in Norway, Sweden, Denmark, Finland, Germany and Spain. Bank Norwegian cooperates with Norwegian Air Shuttle ASA on their loyalty program in selected markets. In 2021, the bank had more than 1.7 million customers. [3]

Contents

History

In May 2007, Norwegian announced that they planned to enter the banking sector, with Erik Jensen as CEO of the new company, Bank Norwegian. Jensen was previously CEO of yA Bank og Forsikring AS (yA Bank and Insurance). [4] In September 2007, Bank Norwegian received a commercial bank operating license from the Norwegian Ministry of Finance. [5] In October 2007 Norwegian announced that they planned to start a combined credit and bonus card program (Norwegian Reward) with up to 20% bonus for international flights and 1% of the purchase price on all credit purchases. [6] The bank began providing services in Sweden in May 2013 [7] and in Denmark and Finland in December 2015. [1] On 19 August 2019, Bank Norwegian's parent company Bank Norwegian ASA (Previously Norwegian Finans Holding ASA [8] ) announced that Norwegian Air Shuttle had sold its entire shareholding in the company to Cidron Xingu Limited. Bank Norwegian was listed on the Oslo Stock Exchange from 17 June 2016.

In November 2021, Nordax Bank AB completed acquisition of Bank Norwegian after a bidding process, [9] [10] and the company was delisted from the Oslo Stock Exchange on 15 November 2021. [11] On 30 November, the merger between the two banks was completed. [12] Jacob Lundblad is the current CEO.

References

  1. 1 2 3 4 5 6 "Annual Report 2015 Norwegian Finans Holding ASA" (PDF). Norwegian Finans Holding ASA. Archived from the original (PDF) on 2017-05-10. Retrieved 2016-05-20.
  2. ↑ "Nøkkelopplysninger fra Enhetsregisteret - Brønnøysundregistrene". w2.brreg.no. Retrieved 2021-11-15.
  3. ↑ "Bank Norwegian - Forbrukslån, kredittkort, forsikringer og spareprodukter". www.banknorwegian.no (in Norwegian Bokmål). Retrieved 2021-11-15.
  4. ↑ NRK. "Norwegian gir kundene bank". NRK. Retrieved 2016-05-16.
  5. ↑ Finansdepartementet (2007-09-19). "Bank Norwegian AS gis tillatelse til å drive virksomhet som forretningsbank". Regjeringen.no (in Norwegian). Retrieved 2016-05-16.
  6. ↑ "How To Earn Free Flights With Norwegian". www.lifeinnorway.net. Retrieved 2018-05-02.
  7. ↑ Brakstad, Tommy H. S. "Svindal og Kjos starter bank i Sverige". Nettavisen. Retrieved 2016-05-16.
  8. ↑ Norwegian Finans Holding ASA (2021-07-16). "Norwegian Finans Holding ASA: Information regarding intragroup merger and listing of Bank Norwegian ASA". GlobeNewswire News Room. Retrieved 2021-11-15.
  9. ↑ Nordax Group press release (2021-09-30). "Receipt of SFSA approvals and accordingly the satisfaction of all regulatory approvals required to complete the recommended voluntary cash offer for all shares in Bank Norwegian ASA". Nordax Group. Retrieved 2022-03-04.
  10. ↑ Nordax Group press release (2022-02-28). "Year-end Report January–December 2021 Nordax Bank AB". Nordax Group. Retrieved 2022-03-04.
  11. ↑ MFN.se (2021-11-10). "Bank Norwegian ASA - Delisting". MFN.se. Retrieved 2022-03-04.
  12. ↑ "Successful merger". Mynewsdesk. Retrieved 2022-12-15.
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