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Monobank: NOK 840 million loan balance at year end, listing on Merkur Market in February

Pressemelding   •   jan 25, 2017 07:44 CET

CEO Bent Gjendem

Monobank exceeded its guiding and recorded a healthy growth in the fourth quarter 2016. In combination with the successful NOK 178 million equity issue completed in December, Monobank has applied for listing of its shares on Oslo Stock Exchange’s Merkur Market with a target of first trading for mid-February.

Monobank’s net loan balance per year end 2016 was NOK 840 million while the bank in November guided on the upper range of NOK 750-800 million. The Bank thus considerably exceeded its own growth expectations.

“We’re satisfied with the development during the fourth quarter and of course with 2016 as a whole. Looking ahead we have solid ambitions for 2017 and have a target of reaching domestic loans in the area of NOK 1.7 – 1.8 billion by year end. Furthermore, as part of the positive development and the interest in the investor community, we look forward to list our shares on Merkur Market in February”, says CEO of Monobank, Bent H. Gjendem.

Monobank has previously announced that it plans to commence lending business in Finland during the middle of 2017. Furthermore, in October 2016, the bank entered into a credit card cooperation agreement with Widerøe AS. The credit card will be offered to all Widerøe customers, and will allow credit card users to earn EuroBonus points through a firm agreement with SAS EuroBonus. The card is expected to be launched around New Year 2017/2018.

“We have a strong momentum in our Norwegian operation with strategic milestones to be reached throughout the year. In addition we have a scalable IT platform allowing Monobank to expand geographically and continue to drive the development within consumer banking towards digitalisation and improved solutions for the users”, says Bent H. Gjendem.

ABG Sundal Collier and Pareto Securities act as advisers in connection to the listing on Merkur Markets.

For further information contact:

Bent H. Gjendem, Chief Executive Officer at Monobank, phone: +47 996 11 996

Monobank ASA er en nettbank som tilbyr Personlån og høyrentekonto til privatmarkedet. Monobank ble etablert i Bergen i november 2015 med konsesjon fra Finanstilsynet. Banken er medlem av Bankenes Sikringsfond, noe som innebærer at alle bankinnskudd inntil to millioner kroner er dekket av innskuddsgarantien fra sikringsfondet.

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