The total capital ratio was 27.8%, the core capital ratio was 25.6% and the CET1 ratio was 24.0%, including set aside 60% of net result to dividend for 2021 and the remaining
In the second quarter, the Bank has sold debt collection credit cards portfolios in
Deposits were reduced by
The second quarter and the weeks into the third quarter has been eventful for the Bank:
- A dividend of
NOK 5 per share was distributed onMay 6, 2021 to registered shareholders as27 April 2021 . The Board of Directors has been granted an authorization to pay the remainingNOK 1 per share in the fourth quarter 2021, pending on the development of the pandemic. - At the end of June, the Bank’s CEO
Tine Wollebekk resigned, and the CFOKlara-Lise Aasen was appointed as interim CEO with immediate effect fromJune 29, 2021 . - The merger of Norwegian Finans Holding ASA (NOFI) and
Bank Norwegian ASA (BANO) was executed after market close onJuly 20, 2021 with a corresponding change in the Bank’s ticker from NOFI to BANO onJuly 21, 2021 . - On
July 14, 2021 Nordax Bank AB (publ) announced that it had completed due diligence of the Bank and launched a public voluntary cash offer ofNOK 105 per share to acquire the entire outstanding share capital in NOFI, (later BANO after the intragroup merger).
“In the second quarter we continue to see negative effects of the pandemic on our income. However, we do see a positive development after soon 1,5 year with pandemic restrictions. Now spending and consumption is picking up. For the Bank we experienced a positive shift this quarter with increased usage of our credit card, in all the four Nordic markets, and we expect this to improve even further during the second half of 2021 as a result of reopening and increased activity level. Loan demand is still low but has gradually come up the last months.”, says Interim CEO and CFO
The Group continues to be in a strong financial position with high profitability and operational excellence, strong capitalization and elevated levels of liquid assets. The Group has endured the adverse effects of COVID-19 and is prepared for growth, both with increased activity level in the Nordics and our European expansion in the fourth quarter.
For further information, see the full reporting material for the quarter at: https://www.banknorwegian.no/OmOss/InvestorRelations
For any questions please call:
Interim CEO and CFO,
Head of
Press contact; Head of Communication and Sustainability,
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
Attachments
Bank Norwegian Group second quarter 2021 results presentation-
Report for the second quarter 2021
Bank Norwegian Group
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