Collector Bank

Before the acquisition, Norion Bank’s consumer segment managed approximately 24,000 outstanding credit cards. Through the acquisition, the total number of cardholders increases to approximately 95,000. The outstanding credit volume in the acquired portfolio amounts to approximately SEK 650 million. The acquired card business also complements Norion Bank’s existing offerings with individual, active card programs. These programs provide access to exclusive partnership deals with TUI Sweden AB, one of Sweden’s largest travel operators, and Wismo Automotive AB, exclusive agent to several well-known automotive companies in Sweden.
 
– We are very pleased to have completed this acquisition, which confirms the growth focus we have within the credit card business. The acquisition represents a strategically important step, providing opportunities to gain competitive edges on the market. We also look forward to continue to offer attractive solutions to our clients, who will benefit from a broader range of services and an enhanced customer experience with tailored services. Furthermore, the new partnership deals represent a new pillar in the bank's consumer business, and we are improving our ability to establish additional, attractive partner deals and collaborations, says Martin Nossman, CEO, Norion Bank.

The acquisition has no material impact on Norion Bank’s result or financial position but is anticipated to contribute positively to Norion Bank’s profitability from start.