Bank Norwegian has entered into an agreement with Kredinor to transfer a portfolio of non-performing loans in Norway with a book value of appx NOK 240 million. The transaction is estimated to be closed August 1, 2017 and has an estimated earnings impact of NOK 45 million. The transaction will yield cost savings and eliminates uncertainty regarding the recovery of outstanding claims.
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CFO Pål Svenkerud; phone: +4793403904
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Source: Norwegian Finans Holding ASA via Globenewswire