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Norion Bank has received approval to change method for calculating own funds requirement for operational risk

The Swedish Financial Supervisory Authority has granted Norion Bank AB (”Norion Bank”) permission to use the alternative standardised approach for calculating the own funds requirement for operational risk. The permission will strengthen Norion Bank’s capital position.

Norion Bank changes its method for calculating own funds requirement for operational risk from the basic approach to the alternative standardised approach. Based on Norion Bank’s figures as of 30 June 2023, the Common Equity Tier 1 ratio would have increased from 15.0% to 15.8%, compared with the regulatory requirement of 9.1%. The Tier 1 ratio and Total Capital ratio would have increased from 16.1% to 17.0%, compared with regulatory requirements of 10.8% and 13.1%, respectively. The alternative standardised approach will be applied from the fourth quarter of 2023.

For more information, please contact:
Peter Olsson, CFO
Phone: +46 73 712 04 46
E-mail: peter.olsson@norionbank.se

About Norion Bank
Norion Bank Group is a business-oriented Nordic financing bank. The Group’s brands – Norion Bank, Walley and Collector – offer customized financing solutions that meet distinct needs in three customer segments: medium-sized corporates and real estate companies, merchants, and private individuals. As a specialist in financing solutions, Norion Bank Group is a leading complement to traditional large banks, with a vision of being the leading Nordic financing bank in its chosen segments. 
  
Norion Bank offers corporate and real estate loans, as well as factoring for medium-sized corporates and real estate companies. The Walley brand offers flexible payment and checkout solutions to merchants and private individuals. The Collector brand offers personal loans and credit cards to private customers, as well as savings accounts to private individuals and companies. Norion Bank Group (formerly Collector Bank) was founded in 1999 and has offices in Gothenburg, Stockholm, Helsingborg, Oslo and Helsinki. Business is conducted through Norion Bank AB (public), which is listed on Nasdaq Stockholm.

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Norion Bank has received approval to change method for calculating own funds requirement for operational risk

Datum 2023-10-05, kl 08:00
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Norion Bank has received approval to change method for calculating own funds requirement for operational risk
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