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Komplett Bank ASA ( (DE:KBN) ) has provided an announcement.
Morrow Bank has agreed to acquire a Swedish consumer loan portfolio from Moank valued at approximately SEK 640 million, aligning with its strategy to leverage structural growth opportunities in the Nordics. This acquisition, which follows two previous purchases of Swedish loan portfolios, will enhance the bank’s profitability without increasing operating costs due to its scalable platform. The transaction will increase Morrow Bank’s Swedish gross loan book to NOK 6 billion, representing 35% of its total loan volume. Additionally, Morrow Bank has received a Swedish banking license and plans to transfer its listing to Nasdaq Stockholm in 2026, positioning itself competitively among Nordic peers.
More about Komplett Bank ASA
Morrow Bank is a Nordic digital niche bank that offers personal loans, credit cards, deposit accounts, and online point-of-sales finance products to consumers. It targets creditworthy customers with stable personal finances and employs automated processes for credit assessment and underwriting. The bank emphasizes operational efficiency and low costs through centralized operations and modern digital systems.
YTD Price Performance: 51.57%
Average Trading Volume: 557,798
Current Market Cap: NOK3.13B
For detailed information about KBN stock, go to TipRanks’ Stock Analysis page.