Nordax Bank AB (publ) receives affirmed investment grade rating from Nordic Credit Rating (BBB, stable outlook)
Nordax Bank AB (publ) (“Nordax”) has received an affirmed investment grade rating from the rating institute Nordic Credit Rating with the rating BBB, stable outlook.
To have a diversified funding structure is a cornerstone in Nordax’s funding strategy and reduces Nordax’s liquidity risk and enables it to create a larger, more optimal financing mix over time. Being an active issuer in the capital market is part of the strategy. The affirmed credit rating from Nordic Credit Rating further strengthens Nordax’s possibilities of getting hold of attractive funding and deepens Nordax’s sourcing capacity in the capital markets.
For more information, please refer to Nordic Credit Rating’s rating report: https://nordiccreditrating.com/article/nordax-bank-bbb-long-term-issuer-rating-affirmed-outlook-stable
For further information, please contact:
Patrick MacArthur, CFO, Nordax Bank AB (publ)
+46 760 32 69 70
Arash Bigloo, Head of Treasury, Nordax Bank AB (publ)
+46 738 66 06 62
Nordax Bank is a leading specialist bank in Northern Europe with strong owners in the form of Nordic Capital Fund IX, Nordic Capital Fund VIII and Sampo. We currently have around 2 million private customers, of which just under 1.2 million are credit card customers, in the Nordic countries, Spain, Germany and the Netherlands. We are a specialist bank that through responsible lending helps people make informed decisions for a life they can afford. We are a flexible complement to the major banks. Instead of quantity, we have specialised in a few selected products that we know best: personal loans, mortgages, equity release mortgages, credit cards and savings accounts. In November 2021, Nordax Bank acquired Bank Norwegian ASA, which brought not only a large number of customers to the Group but also complementary strengths in product expertise, digital distribution and geographical presence. Since 2019, Svensk Hypotekspension, which is a specialist in equity release products, is a wholly owned subsidiary of Nordax Bank. The Group has over 500 employees, with offices in Stockholm, Malmö, Gothenburg and Fornebu, Oslo. The credit assessment process is one of Nordax’s core competences. It is thorough, sound and data driven. Nordax’s customers are financially stable. As at 31 March 2022, lending to the public amounted to SEK 75.0 billion and deposits to SEK 70.3 billion. Read more about Nordax on https://www.nordaxgroup.com.