Bank Norwegian

Bank Norwegian AS

Bank Norwegian operating area

Type| Public company
Industry| Bank
Founded| 2007
Headquarters| Fornebu, Norway

Area served

| Norway
Sweden
Finland
Denmark

Key people

| Tine Wollebekk (CEO) John Høsteland (Chairman)
Products| Consumer loan, deposit and credit card
Revenue|  NOK 1,5 billion (2015)[1]

Net income

|  NOK 539 million (2015)[1]
Total assets|  NOK 17,5 billion (2015)[1]
Total equity|  NOK 1,7 billion (2015)[1]

Number of employees

| 64 (2015) [1]
Parent| Norwegian Finans Holding ASA
Website| banknorwegian.no

Bank Norwegian AS is a Norwegian internet bank which provides loans, credit cards and savings accounts to consumers.[2] The company was founded in November 2007 and is headquartered at Fornebu, Norway and is co-located with Norwegian in the Diamanten ('The Diamond') office building.[3][4] On 19 August 2019, Bank Norwegian's parent company Norwegian Finans Holding ASA announced that Norwegian Air Shuttle had sold its entire shareholding in the company to Cidron Xingu Limited.[5]

## History

In May 2007, Norwegian announced that they planned to enter the banking sector, with Erik Jensen as CEO of the new company, Bank Norwegian. Mr. Jensen was previously CEO of yA Bank og Forsikring AS (yA Bank and Insurance).[6] In September 2007, Bank Norwegian received a commercial bank operating license from the Norwegian Ministry of Finance.[7] In October 2007 Norwegian announced that they planned to start a combined credit and bonus card program (Norwegian Reward) with up to 20% bonus for international flights and 1% of the purchase price on all credit purchases.[8] The earlier anticipated synergy between the bank and the airline was a reality.[9] The bank began providing services in Sweden in May 2013[10] and in Denmark and Finland in December 2015.[1] On 5 April 2016, Bank Norwegian announced plans to list the company on the Oslo Stock Exchange during the second quarter of 2016.[11][12]

## References

1. ↑ 1.0 1.1 1.2 1.3 1.4 1.5 "Annual Report 2015 Norwegian Finans Holding ASA". Norwegian Finans Holding ASA. https://www.banknorwegian.no/Documents/NO/Annual_Report_2015_Norwegian_Finans_Holding_ASA.pdf.
2. ↑ Bank Norwegian AS : STRONG GROWTH AND EARNINGS IN BANK NORWEGIAN
3. ↑ "Nøkkelopplysninger fra Enhetsregisteret – Brønnøysundregistrene". http://w2.brreg.no/enhet/sok/detalj.jsp?orgnr=991455671.
4. ↑ "Announcements: Norwegian Finans Holding ASA : STRONG GROWTH AND EARNINGS IN BANK NORWEGIAN". https://www.banknorwegian.fi/TietoaMeistä/InvestorRelations/Announcement?Id=3382028&title=Norwegian-Finans-Holding-ASA-:-STRONG-GROWTH-AND-EARNINGS-IN-BANK-NORWEGIAN.
5. ↑ "Norwegian Air Shuttle sells its shareholding in Norwegian Finans Holding for NOK 2,218 million". https://www.banknorwegian.fi/TietoaMeistä/InvestorRelations/Announcement?Id=3634088&title=Norwegian-Air-Shuttle-sells-its-shareholding-in-Norwegian-Finans-Holding-for-NOK-2,218-million.
6. ↑ NRK. "Norwegian gir kundene bank". http://www.nrk.no/okonomi/norwegian-gir-kundene-bank-1.2368839.
7. ↑ Finansdepartementet (2007-09-19). "Bank Norwegian AS gis tillatelse til å drive virksomhet som forretningsbank" (in no). https://www.regjeringen.no/no/aktuelt/bank-norwegian-as-gis-tillatelse-til-a-d/id481284/.
8. ↑ "How To Earn Free Flights With Norwegian" (in en-US). https://www.lifeinnorway.net/earn-free-flights-with-norwegian/.
9. ↑ E24. "Norwegian vil gi bonus og kreditt". http://e24.no/makro-og-politikk/norwegian-air-shuttle/norwegian-vil-gi-bonus-og-kreditt/2052284.
10. ↑ Brakstad, Tommy H. S.. "Svindal og Kjos starter bank i Sverige". http://www.nettavisen.no/na24/3615270.html.
11. ↑ "Norwegian Finans Holding ASA – Contemplated Private Placement and listing on the Oslo Stock Exchange". Norwegian Finans Holding ASA. https://www.banknorwegian.no/Documents/NO/InvestorRelations/Announcements/Press release 2016-04-05.pdf.
12. ↑ "Bank Norwegian's owner plans initial public offering in Q2". Reuters. 2016-04-05. https://www.reuters.com/article/norwegian-finans-ipo-idUSL5N17854L.

## External links

* Official website Norway
* Norwegian reward
* Norwegian Air Shuttle
* Official website Sweden
* Official website Finland
* Norwegian Credit Card Finland
* Official website Denmark

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