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Instabank — Capital/Financing Update 2020
Dec 22, 2020
3636_rns_2020-12-22_087ce4a4-ec84-44c6-ba47-2a568deb1101.html
Capital/Financing Update
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Instabank ASA sells portfolio of non-performing loans in Norway
Instabank ASA sells portfolio of non-performing loans in Norway
Instabank has entered into an agreement to sell a significant part of the bank’s non-performing loans (NPL) in Norway representing a gross booked value of approximately 160 MNOK. As a result of the transaction, Instabank’s total NPL ratio drops from 10,4 % to 5,5 % based on the situation per the end of the third quarter 2020.
The transaction improves capital ratios, significantly reduce non-performing loans exposure and confirms the valuation of impaired loans going forward as the transaction is operating profit neutral.
The transaction will be closed at the end of the fourth quarter 2020.
For further information, please contact: Robert Berg, CEO [email protected], +47 974 85 610
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.