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17/04-2018 07:30:01: (KOMP) Komplett Bank enters into forward flow agreement for the monthly sale of new non-performing loans in Norway

Oslo 17 April 2018

Komplett Bank has today entered into a forward flow agreement with Axactor to
sell new Norwegian non-performing loans on a monthly basis. The agreement has a
duration of 18 months, with an option to the purchaser for an extension for an
additional 6 months. The agreement will come into effect as of June 2018.

The contract is entered into at an attractive price level for Komplett Bank and
is expected to reduce loan losses going forward.  
"The agreement with Axactor reduces future loan losses and eliminates
uncertainty related to the valuation and impairment of new non-performing loans.
In addition to reducing overall risk, it will improve capital ratios and
strengthen the bank's capital base going forward, underpinning the bank's
strategic options for growth through expansion and diversification," says
Raimond Pettersen, CEO of Komplett Bank.


For more information, contact: 
Raimond Pettersen, CEO
raimond.pettersen@komplettbank.no
+47 9900 4250

  
About Komplett Bank
Komplett Bank is a Norwegian bank offering convenient payment and financing
products to consumers. The bank was established in 2014 with a European banking
license from the Financial Supervisory Authority of Norway and is a member of
the Norwegian Banks' Guarantee Fund. The bank has a growth strategy based on
geographical and product-wise diversification and expansion and operates out of
Lysaker, Norway. The bank has a digital, scalable and low cost operational model
with strong risk control.

Ekstern link: http://www.newsweb.no/index.jsp?messageId=448858

Nyheten er levert av OBI.

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mandag 24/09-2018 19:38:53