Hopp til hovedinnhold

Bank Norwegian



The Group's comprehensive income in the third quarter 2019 amounted to NOK 511 million after tax, compared with NOK 475 million in the second quarter.

The underlying earnings development is strong and is driven by loan growth, increased commission income, good cost control and improved credit quality.

Net interest income increased due to loan growth and one more interest day. Net commission income increased due to seasonally high income in the quarter. Operating expenses increased due to accrual effects on personnel expenses in the previous quarter, partly offset by lower digital marketing spending. Loan loss provisions were lower in the quarter due to improved credit quality.

The customer and loan growth continued in the third quarter, with loan growth of NOK 1.3 billion, currency adjusted. Deposits increased NOK 687 million, currency adjusted.

The bank recruited 47 600 new customers in the third quarter. At the end of the quarter, the bank had a customer base of 1 683 100 customers, divided among 1 235 600 credit card customers, 204 500 instalment loan customers and 243 000 deposit customers.

The execution of the Group’s 4-pillar strategy is proceeding according to plan with several milestones reached. Profitable growth in our core Nordic region is paramount for the Bank and Q3 represents another strong quarter. Despite intense competitive pressure and regulatory changes, customer and growth within both personal loans and credit cards continued.

Bank Norwegian continues to explore the best path for geographical expansion. A cautious and segmented go-to-market model will ensure the same industry-leading performance as in our key Nordic markets.

The application process for an EU Banking license in Ireland is progressing according to plan as the exploratory phase information has been submitted.

Bank Norwegian started its operations in November 2007 and offers instalment loans, credit cards and deposit accounts to retail customers distributed through the Internet in the Nordic market. Bank Norwegian offers, in cooperation with the airline Norwegian, a combined credit card and reward card. The bank started operations in Sweden in May 2013. In December 2015 the bank launched instalment loans and deposit accounts in Denmark and Finland, while credit cards were launched in June 2016. In 2019 Norwegian Finans Holding ASA acquired all the shares in the Irish company Lilienthal Finance Ltd. and through this company all rights to the Norwegian brand for banking services and access to customers in Europe.

Bank Norwegian is a digital bank that offers simple and competitive products to the retail market. The strategy is based on leading digital solutions, synergies with the airline Norwegian, attractive terms for our customers, cost-effective operations and effective risk selection.


For further information, see Report for the third quarter 2019 and Investor Presentation for the third quarter 2019, which are available at:



For any questions please call:

CEO Tine Wollebekk; phone:  +47 40805557

CFO Pål Svenkerud; phone:  +47 93403904

Head of Communications and Public Affairs Kai-Morten Terning; phone: +47 90531898


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