Instabank — M&A Activity 2021

Jun 16, 2021

Instabank ASA to acquire a portfolio of unsecured loans from Optin Bank ASA

Instabank ASA to acquire a portfolio of unsecured loans from Optin Bank ASA

Instabank ASA has on June 16th 2021 entered into an agreement with Optin Bank ASA to acquire a portfolio of unsecured consumer loans at a principal value of 47,7 MNOK. The transaction will be completed within the end of June 2021.

The portfolio includes only performing loans and has an average yield of 13.1 %. The purchase price agreed between the parties is 85 % of face value.

Although this is a relatively small portfolio of loans, we are very satisfied with the terms of the transaction which support our ambitions for profitable growth the bank has previously communicated to the market, says CEO of Instabank, Robert Berg, in a comment.

Contact persons:

Robert Berg, CEO, robert.berg@instabank.no

Per Kristian Haug, CFO, perkristian.haug@instabank.no

This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act