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Bank Norwegian AS: Bank Norwegian sells the Danish portfolio of defaulted credit cards

Bank Norwegian AS
·1-min read

Bank Norwegian has entered into an agreement with the Lowell group to sell its Danish portfolio of defaulted credit cards with outstanding customer claims totaling approximately MDKK 350. The transaction is estimated to be finalized and settled medio April 2021 and is expected to yield an immaterial positive earnings impact in Q2 2021.

For any questions please call:

CFO Klara Lise Aasen; phone +47 47635583;

Head of Treasury Mats Benserud; phone +47 95891539;

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act