Bank Norwegian

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 August 19th, 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]

Bank Norwegian AS
TypePublic company
IndustryBank
Founded2007
HeadquartersFornebu, Norway
Area served
Norway
Sweden
Finland
Denmark
Key people
Tine Wollebekk (CEO) John Høsteland (Chairman)
ProductsConsumer loan, deposit and credit card
Revenue NOK 1,5 billion (2015)[1]
54,100,000 Norwegian krone 
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]
ParentNorwegian Finans Holding ASA
Websitebanknorwegian.no

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. "Annual Report 2015 Norwegian Finans Holding ASA" (PDF). Norwegian Finans Holding ASA. Archived from the original (PDF) on 2017-05-10. Retrieved 2016-05-20.
  2. Bank Norwegian AS : STRONG GROWTH AND EARNINGS IN BANK NORWEGIAN
  3. "Nøkkelopplysninger fra Enhetsregisteret – Brønnøysundregistrene". w2.brreg.no. Retrieved 2016-05-16.
  4. "Announcements: Norwegian Finans Holding ASA : STRONG GROWTH AND EARNINGS IN BANK NORWEGIAN". Bank Norwegian. Retrieved 2018-05-02.
  5. "Norwegian Air Shuttle sells its shareholding in Norwegian Finans Holding for NOK 2,218 million". Bank Norwegian. Retrieved 2019-09-01.
  6. NRK. "Norwegian gir kundene bank". NRK. Retrieved 2016-05-16.
  7. Finansdepartementet (2007-09-19). "Bank Norwegian AS gis tillatelse til å drive virksomhet som forretningsbank". Regjeringen.no (in Norwegian). Retrieved 2016-05-16.
  8. "How To Earn Free Flights With Norwegian". www.lifeinnorway.net. Retrieved 2018-05-02.
  9. E24. "Norwegian vil gi bonus og kreditt". E24. Retrieved 2016-05-16.
  10. Brakstad, Tommy H. S. "Svindal og Kjos starter bank i Sverige". Nettavisen. Retrieved 2016-05-16.
  11. "Norwegian Finans Holding ASA – Contemplated Private Placement and listing on the Oslo Stock Exchange" (PDF). Norwegian Finans Holding ASA. Archived from the original (PDF) on 2017-05-10.
  12. "Bank Norwegian's owner plans initial public offering in Q2". Reuters. 2016-04-05. Retrieved 2016-05-16.
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