Morrow Bank ASA

M&A Activity • Nov 10, 2025

Morrow Bank ASA: Agreement to acquire SEK ~640 million Swedish performing loan portfolio, positively impacting profitability

Morrow Bank ASA: Agreement to acquire SEK ~640 million Swedish performing loan portfolio, positively impacting profitability

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.

“Our cost efficiency and scalable operations enable us to pursue inorganic growth opportunities that strengthen returns. The two previous acquisitions of Swedish loan portfolios in 2024 demonstrate this approach and with this transaction, we have acquired loan portfolios valued at close to SEK 3 billion over the last 15 months. We will continue to seek relevant structural opportunities to leverage our platform and accelerate value creation beyond organic growth,” said CEO Øyvind Oanes.

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 been granted a banking license from the Swedish FSA and will become a Swedish bank from 2026 and onwards, ensuring a level playing field with Nordic peers. The Bank is also transferring its listing from Euronext Oslo Børs to Nasdaq Stockholm on 9 January 2026.

For further information, please contact:

Eirik Holtedahl, CFO

tel: +47 96912291

email: ir@morrowbank.com

About Morrow Bank ASA

Morrow Bank is a focused Nordic digital niche bank offering personal loans, credit cards, deposit accounts and online point-of-sales finance products to consumers. The target group is creditworthy customers with stable personal finances and no payment remarks. Credit risk is managed largely by automated processes for credit assessment and underwriting. The Bank has a diversified and balanced distribution model utilizing both public and proprietary channels. Operational efficiency and low cost is a foundation for Morrow Bank and is enabled by centralized operations, modern systems and digital set-up. To learn more, visit ir.morrowbank.com