Morrow Bank Expands Portfolio with Lunar Acquisition

Komplett Bank ASA (DE:KBN) has released an update.

Morrow Bank has agreed to acquire a SEK ~1.6 billion consumer loan portfolio from Lunar Bank, aligning with its strategy to drive growth and enhance value creation through structural opportunities. The Bank anticipates this transaction will positively impact its profitability starting from 2024 due to its cost-efficient and scalable operations. The acquisition will significantly expand Morrow Bank’s Swedish loan book to NOK 5.3 billion, which will constitute approximately 35% of the Bank’s total loan volume.

For further insights into DE:KBN stock, check out TipRanks’ Stock Analysis page.