Norwegian Finans Holding (NOFI)

TekBot · desember 7, 2018, 8:56am

07/12-2018 09:54:22: (NOFI) Norwegian Finans Holding ASA : NORWEGIAN FINANCE HOLDING HAR INNGÅTT AVTALE OM RETT TIL Å KJØPE AKSJER I DET IRSKE SELSKAPET LILIENTHAL FINANCE LIMITED

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Norwegian Finance Holding ASA («NOFI») har i dag inngått en avtale som gir rett til å kjøpe minimum 40 % av det irske selskapet Lilienthal Finance Limited («Lilienthal»). Lilienthal er et heleid datterselskap av HBK Holding AS («HBK»). Det er lagt til rette for at Norwegian Air Shuttle ASA («NAS») og NOFI sammen med HBK kan kontrollere selskapet.

Lilienthal er etablert for å utvikle bankvirksomhet i Europa, og vil søke banklisens i Irland. Selskapet har inngått en avtale med NAS og dets datterselskap Norwegian Air Brand Limited (“NAB”) om bruk av rettighetene knyttet til merkevaren Norwegian knyttet til banktjenester i Europa utenfor Norden. Lilienthal vil ha de samme rettighetene i Europa utenfor Norden som Bank Norwegian har i Norden.

Avtalen vil åpne for at NOFI og NOFIs aksjonærer får mulighet til å delta i en utvikling av banktjenester også utenfor Norden, etter samme forretningskonsept som i Bank Norwegian i dag. NOFI vil eie aksjer direkte i Lilienthal i prosjektfasen, men sikter mot at NOFIs aksjonærer vil få direkte tegningsretter når Lilienthal skal oppkapitaliseres ved tildelding av banklisensen.

Administrerende direktør Tine Wollebekk i NOFI sier at «Bankens eksisterende virksomhet og kundetilfang i Norden er svært sterk og har en fortsatt positiv utvikling. Vi vil nå utvide arbeidet med å eksportere forretningsmodellen til øvrige markeder i Europa.»

Konsernsjef Bjørn Kjos i NAS sier at «Fordelsprogrammet Norwegian Reward har, sammen med heldigitial bankdrift og godt utprøvde kredittmodeller, skapt store verdier for bankens og flyselskapets aksjonærer. Vi har inngått en avtale som gir bankens eiere, inkludert NAS selv, mulighet til å kapitalisere på de verdier som knyttes til Norwegians merkevare sammen med effektiv drift og digitale bankløsninger.»

Selskapet vil på en ekstraordinær generalforsamling senere i dag ta stilling til et forslag fra en aksjonær om å redomisilere banken raskt. Styret i NOFI har foreslått at forslaget avvises, men arbeider langsiktig med å utvikle verdiene i selskapet. Domisileringsspørsmålet vurderes løpende i dette arbeidet.

Oppdatering på Bank Norwegians virksomhet i fjerde kvartal 2018

Bankens utvikling så langt i fjerde kvartal er som forventet, med fortsatt god etterspørsel etter lån i Norge og øvrige markeder i Norden. Utlånsmarginene er stabile i alle markedene. Tapsavsetningene utvikler seg i henhold til forventningene kommunisert ved regnskapsfremleggelsen for tredje kvartal.

Kontaktperson:

Kai- Morten Terning
Leder for kommunikasjon og samfunnskontakt
kte@banknorwegian.no
(+47) 905 31 898

This announcement is distributed by West Corporation on behalf of West Corporation clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Norwegian Finans Holding ASA via Globenewswire

http://www.netfonds.no/quotes/release.php?id=20181207.GlobeNewswire.HUG2228221

TekBot · desember 7, 2018, 9:32am

07/12-2018 10:30:41: (NOFI) Correction : NORWEGIAN FINANCE HOLDING HAS ENTERED INTO AN AGREEMENT REGARDING THE RIGHT TO PURCHASE SHARES IN THE IRISH COMPANY LILIENTHAL FINANCE LIMITED

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Norwegian Finance Holding ASA (“NOFI”) has today entered into an agreement granting the right to acquire minimum 40 % of the shares in the Irish company Lilienthal Finance Limited (Lilienthal). Lilienthal is a wholly owned subsidiary of HBK Holding AS (“HBK”). It is the intention that Norwegian Air Shuttle ASA (“NAS”) and NOFI jointly with HBK can control the company.

Lilienthal is established to develop banking services in Europe and will apply for a banking license in Ireland. The company has entered into an agreement with NAS and its subsidiary Norwegian Air Brand Limited (“NAB”) regarding the use of the rights related to the Norwegian brand for banking services in Europe outside the Nordic region. Lilienthal will have the same rights in Europe outside the Nordic region as Bank Norwegian has in the Nordic countries.

The agreement provides an opportunity for NOFI and NOFI shareholders to participate in the development of banking services outside the Nordic region, following the same business concept as in Bank Norwegian today. NOFI will own shares directly in Lilienthal during the project phase but aim for NOFI shareholders to receive direct subscription rights when Lilienthal is to be capitalized after being granted the banking license.

CEO Tine Wollebekk of NOFI states that "The Bank’s existing business and customer growth in the Nordic region is very strong and continues to be positive. We will now increase our efforts to export the business model to other markets in Europe. "

CEO Bjørn Kjos in NAS says that "The Norwegian Reward affinity program, together with fully digital banking operations and well-proven credit models, has created substantial value for the bank’s and the airline’s shareholders. We have entered into an agreement that allows the bank’s shareholders, including NAS itself, the opportunity to capitalize on the values associated with the Norwegian brand along with efficient operations and digital banking solutions. "

At an extraordinary general meeting later today, the company will consider a proposal by a shareholder to re-domicile the bank quickly. The board of NOFI has proposed to reject the proposal but is working long-term to increase the value of the company. The question of domiciliation is continuously assessed in this work.

Update on Bank Norwegian’s operations in the fourth quarter 2018

Bank Norwegian’s operations are developing as expected so far in the fourth quarter. The bank is experiencing continued healthy loan demand in Norway and in the other Nordic markets. Lending margins are stable in all markets. Provisions for loan losses are developing according to expectations as communicated at the third quarter results presentation.

Contact person:

Kai- Morten Terning
Head of communications and public affairs
kte@banknorwegian.no
(+47) 905 31 898

This announcement is distributed by West Corporation on behalf of West Corporation clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Norwegian Finans Holding ASA via Globenewswire

http://www.netfonds.no/quotes/release.php?id=20181207.GlobeNewswire.HUG2228252

TekBot · desember 7, 2018, 10:48am

07/12-2018 11:46:31: (NOFI) Norwegian Finans Holding ASA : Avholdt ekstraordinær generalforsamling

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Norwegian Finans Holding ASA har i dag avholdt ekstraordinær generalforsamling. Forslaget fra Fortelus om at Norwegian Finans Holding ASA skal gjøre tiltak for å redomisiliere bankens og datterselskaps drift til et land utenfor Norge innen ni måneder ble nedstemt.

Protokoll fra den ekstraordinære generalforsamlingen er vedlagt.

For ytterligere informasjon kontakt Leder for kommunikasjon og samfunnskontakt Kai-Morten Terning, phone: (+47) 905 31 898.

Denne informasjonen er meldepliktig etter verdipapirhandelloven § 5-12.

Protokoll

This announcement is distributed by West Corporation on behalf of West Corporation clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Norwegian Finans Holding ASA via Globenewswire

http://www.netfonds.no/quotes/release.php?id=20181207.GlobeNewswire.HUG2228262

TekBot · desember 7, 2018, 10:48am

07/12-2018 11:46:32: (NOFI) Norwegian Finans Holding ASA : Held extraordinary general meeting

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Norwegian Finans Holding ASA has today held an extraordinary general meeting. The proposal from the shareholder Fortelus to initiate the process to redomicile all banking operations of itself and its subsidiaries outside of Norway within nine months was not approved.

The minutes from the extraordinary general meeting are attached

For further information, please contact Head of Communications and Public Affairs, Kai-Morten Terning, phone: (+47) 905 31 898.

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

Minutes

This announcement is distributed by West Corporation on behalf of West Corporation clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Norwegian Finans Holding ASA via Globenewswire

http://www.netfonds.no/quotes/release.php?id=20181207.GlobeNewswire.HUG2228263

Evilfreud · desember 10, 2018, 8:34am

Ikke spesifikk for Bank Norwegian men hele bransjen, passer dog godt her.

Teksten er hentet fra en kilde.

“Tirsdag kl 08.00 er forbrukslånsbransjen innkalt til et møte med tre statsråder. Både Finans, Justis og Barne- og Familieminister stiller, med et påfølgene pressemøte kl. 09.00. I realiteten er de kalt inn på teppet for å stå skolerett mens de refses for uansvarligheten. Jeg regner med at regjeringen presenter nye og strenge tiltak som kan bremse festen. Det kan også omfatte tiltak rettet mot inkassobransjen”

TekBot · desember 21, 2018, 9:07am

21/12-2018 10:06:35: (NOFI) Meldepliktig handel primærinnsider

TekBot · desember 21, 2018, 2:52pm

21/12-2018 15:50:34: (NOFI) Mandatory notification of trade

TekBot · januar 10, 2019, 1:32pm

10/01-2019 14:31:56: (NOFI) Norwegian Finans Holding ASA : Update on acquisition of own shares

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Norwegian Finans Holding ASA (“NOFI”) refers to earlier communication to the market regarding payments to the shareholders in the form of acquisition of own shares. NOFI has today received the Financial Supervisory Authority of Norway’s (the “FSA’s”) decision that NOFI may acquire own shares provided that NOFI’s audited financial statement for 2018 has been completed and that NOFI and Bank Norwegian AS (“Bank Norwegian”) meet the aggregated requirement for common equity tier 1 capital taking into account any announced increases in counter-cyclical buffer in 2019, with a margin of 3.0 per cent. The FSA further expects, based on announced increases in the counter-cyclical buffer in Denmark, Sweden and Norway during 2019, that the aggregate requirement for common equity tier 1 capital for NOFI and Bank Norwegian will increase to approximately 15.9%. Based on this, NOFI will revert with an announcement regarding dividend capacity without delay when the board of directors has an overview of the necessary and relevant financial information.

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

For further information, please contact CFO Pål Svenkerud; phone: + 47 93403904

This announcement is distributed by West Corporation on behalf of West Corporation clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Norwegian Finans Holding ASA via Globenewswire

http://www.netfonds.no/quotes/release.php?id=20190110.GlobeNewswire.HUG2231043

TekBot · januar 11, 2019, 12:34pm

11/01-2019 13:33:24: (NOFI) Finansiell kalender

TekBot · januar 17, 2019, 3:31pm

17/01-2019 16:30:31: (NOFI) Norwegian Finans Holding ASA : Review of financial reporting

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The company refers to the announcement today by the Norwegian FSA regarding a review of certain aspects of the financial reporting of Norwegian Finans Holding ASA.

The review mainly concerned the company’s calculation of individual and group
write-downs of loans and note information on credit risk in the annual accounts for 2017.

The bank has followed a loan evaluation policy that has been tailored for the characteristics of our loan portfolio.

The regulating authorities have over time provided Norwegian banks with guidance, which have been complied with.

The bank believes the excess loan loss provisions taken in 2017 do not materially deviate from the requirements of IAS 39, nor the guidance provided by the Norwegian FSA in their letter dated 21 December 2015. The loss provisions recognised are in accordance with the bank’s evaluation of prudent loss provisions.

The matters raised by the Norwegian FSA have no impact on how the quality of the loan portfolios were assessed.

Furthermore, the report has no impact on submitted financial reporting for 2018.

For any questions please call:

CFO Pål Svenkerud; phone: +47 93403904

This announcement is distributed by West Corporation on behalf of West Corporation clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Norwegian Finans Holding ASA via Globenewswire

http://www.netfonds.no/quotes/release.php?id=20190117.GlobeNewswire.HUG2231707

TekBot · februar 19, 2019, 11:30am

19/02-2019 12:30:00: (NOFI) Norwegian Finans Holding ASA : Invitation to presentation for Q4 2018

TekBot · mars 12, 2019, 6:16pm

12/03-2019 19:14:56: (NOFI) Norwegian Finans Holding ASA: S&P Global Ratings confirms the “BBB” rating on Bank Norwegian

TekBot · mars 29, 2019, 6:01am

29/03-2019 07:00:00: (NOFI) NORWEGIAN FINANS HOLDING ASA : Annual report for 2018 is published today

kanon · april 4, 2019, 11:25am

Dnb med kjøpsanbefaling og kursmål på 105 i dag. Lite interesse her på forumet, med om det kan stemme så bær det være god R/R pt.

TekBot · april 10, 2019, 2:01pm

10/04-2019 16:00:00: (NOFI) Norwegian Finans Holding ASA : NOTICE OF ORDINARY GENERAL MEETING IN NORWEGIAN FINANS HOLDING ASA

TekBot · april 30, 2019, 8:00am

30/04-2019 10:00:00: (NOFI) Norwegian Finans Holding ASA: Invitation to presentation for Q1 2019

TekBot · mai 3, 2019, 5:01am

03/05-2019 07:00:00: (NOFI) NORWEGIAN FINANS HOLDING ASA: GROWTH AND IMPROVED EARNINGS IN BANK NORWEGIAN

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The Group’s comprehensive income in the first quarter amounted to NOK 483 million after tax, compared with NOK 469 million in the fourth quarter 2018.

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

Net interest income fell as a result of fewer interest days and increased deposit guarantee provision. Net commission income increased due to credit card and insurance incentives. Operating expenses increased as a result of increased marketing efforts. Loan loss provisions fell as a result of model calibrations, calendar effects and due to higher costs in the fourth quarter associated with the sale of non-performing loans in Finland.

The customer and loan growth continued in the first quarter, with loan growth of NOK 324 million (NOK 1.0 billion adjusted for currency effects), while deposits decreased NOK 1.4 billion (decreased NOK 830 million adjusted for currency effects).

The reduction of the deposit guarantee amount to EUR 100 000 outside Norway per. 1.1.2019 has contributed to reduced deposit volumes in Sweden and Finland, while Denmark has not been affected.

The bank has strengthened its balance sheet in the quarter through the issue of senior unsecured bonds of NOK 1.0 billion and SEK 550 million.

The bank recruited 70 100 new customers in the first quarter. At the end of the first quarter, the bank had a customer base of 1 577 700 customers, divided among 1 158 600 credit card customers, 196 700 instalment loan customers and 222 400 deposit customers.

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. Norwegian Finans Holding ASA has entered into an agreement on May 2, 2019, to acquire all the shares in Lilienthal Finance Ltd, a company set up to obtain a banking license in Ireland.

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 first quarter 2019, Investor Presentation for the first quarter 2019 and announcement released May 2, 2019 regarding agreements securing European expansion rights, 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 disclosable under the Norwegian Securities Trading Act section 5-12.

Attachments

Report for the first quarter 2019 Norwegian Finans Holding ASA

Report for the first quarter 2019 Bank Norwegian AS

Norwegian Finans Holding Group first quarter 2019 results presentation

http://www.netfonds.no/quotes/release.php?id=20190503.GlobeNewswire.GNW1000190895-en

TekBot · mai 8, 2019, 2:31pm

08/05-2019 16:30:00: (NOFI) Norwegian Finans Holding ASA: Offer to buy back shares in Norwegian Finans Holding ASA

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NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR OTHER MEASURES.

Reference is made to the stock exchange notice issued on 10 January 2019 regarding the update on the acquisition of own shares and the stock exchange notice issued on 2 May 2019 regarding the agreement with Norwegian Air Shuttle ASA (“NAS”) and HBK Holding AS to purchase all the shares in the Irish company Lilienthal Finance Ltd (“Lilienthal”) and the agreement between Lilienthal and NAS with exclusive right to use the Norwegian brand for banking services and access to customers in Europe (the “Lilienthal Agreement”). Norwegian Finans Holding ASA (“NOFI” or the “Company”) has decided to initiate a share buyback for up to NOK 160 million. The buyback will be conducted as a reverse bookbuilding process in which shareholders can submit sales offers. The shares purchased in the buyback will primarily be used as consideration to NAS in connection with the Lilienthal Agreement. Any excess amount (up to NOK 10 million) will be used for the Company’s employee incentive programme.

The bookbuilding period commences immediately and is expected to close at 16:30 (CET) on 9 May 2019. The Company reserves the right to accept sales offers received after the end of the bookbuilding period, as well as to extend the bookbuilding period at any time in its sole discretion. Sales offers are irrevocable and cannot be withdrawn. However, if the bookbuilding period is extended, sales offers can be withdrawn up until the expiry of the extended bookbuilding period.

Arctic Securities AS (.Arctic.) is acting as bookrunner in connection with the buyback and shareholders wanting to sell shares can contact Arctic at phone: +47 21 01 32 13.

In the event that the total number of received sales offers exceeds NOK 160 million at the price accepted, the Company will perform a pro-rata reduction of sales offers.

The buyback will be based on the authorisation provided by the Company’s Annual General Meeting on 2 May 2019.

For further information, please contact: CFO Pål Svenkerud; phone: +47 93 40 39 04.

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

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The buyback and the distribution of this announcement and other information in connection therewith may be restricted by law in certain jurisdictions, and the buyback is not made in any jurisdiction in which this would be unlawful, require registration or other measures. NOFI does not assume any responsibility in the event there is a violation by any person of such restrictions. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions.

The buyback is not being made directly or indirectly in, or by use of the mails of, or by any means or instrumentality of interstate or foreign commerce of, or any facilities of a national securities exchange of, the United States of America, its territories and possessions, any State of the United States and the District of Columbia (the “United States”) or any other jurisdiction in which this would be unlawful. This includes, but is not limited to, facsimile transmission, internet delivery, e-mail, telex and telephones. Accordingly, copies of this release and any related documents are not being, and must not be, mailed, e-mailed or otherwise distributed or sent in or into the United States and so doing may invalidate any purported sales offer.

http://www.netfonds.no/quotes/release.php?id=20190508.GlobeNewswire.GNW1000191743-en

TekBot · mai 9, 2019, 3:21pm

09/05-2019 17:19:59: (NOFI) Norwegian Finans Holding ASA: Results of offer to buy back shares

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Reference is made to the stock exchange notice issued on 8 May 2019 regarding the offer to buy back shares in Norwegian Finans Holding ASA (.NOFI. or the .Company.) for up to NOK 160 million. The offer expired on 9 May 2019 at 16:30 (CET).

The Company has resolved to buy back 2 133 333 shares at a price of NOK 75 per share. The price was determined through a reverse bookbuilding process.

As mentioned in the stock exchange notice issued on 8 May 2019, shares worth NOK 150 million will be used as consideration to Norwegian Air Shuttle ASA (.NAS.) in connection with the agreement between Lilienthal Finance Ltd and NAS with exclusive right to use the Norwegian brand for banking services and access to customers in Europe.

NOFI will own 133 333 treasury shares following the buyback and the delivery of shares to NAS.

For further information, please contact CFO Pål Svenkerud; phone: +47 93 40 39 04.

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

http://www.netfonds.no/quotes/release.php?id=20190509.GlobeNewswire.GNW1000191991-en

TekBot · mai 13, 2019, 6:27am