Morrow Bank ASA: Agreement to acquire SEK ~640 million Swedish performing loan portfolio, positively impacting profitability
Norway, Nov. 11 -- Morrow Bank has entered into an agreement to acquire a Swedish consumer loan portfolio from Moank valued at approximately SEK ~640 million, in line with its strategy to capitalise on structural growth opportunities in the Nordics and deliver increased value creation over time. Due to a high level of automation and self-service across the Bank's processes, the increase in loan volume will not impact operating costs. The transaction will contribute positively to profitability, underscoring the scalability of Morrow Bank's platform. Following completion of the acquisition, Morrow Bank's Swedish gross loan book will amount to approximately NOK 6 billion, representing around 35% of the Bank's total loan volume.Morrow Bank has ...
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