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Norion Bank presents new financial targets

The Board of Norion Bank has today adopted new financial targets regarding profitability, capital adequacy and dividend policy.

Since the end of 2019 the bank has executed on a number of strategic changes in order to streamline and focus on core business. The changes imply that Norion Bank today is a company with a clear focus on profitability over volume growth to ensure long-term customer benefits and thereby shareholder value. Norion Bank’s strategy is to maintain good risk adjusted profitability. In line with this strategy, the Board of Norion Bank has adopted the following financial targets:

Profitability
Norion Bank aims to achieve a sustainable return on equity above 15% over time.

Capital adequacy
Norion Bank’s aim is that all capital ratios shall exceed the regulatory requirement by 200-400 basis points.

Dividend policy
Norion Bank’s policy is to distribute potential surplus capital in relation to the capital adequacy target, subject to the bank’s future outlook and capital planning, to its shareholders.

– It is crucial to maintain good profitability in order to further develop a stable bank. Our new financial targets reflect the strategic transformation that Norion Bank has carried out during recent years where we have streamlined the business and changed focus from growth to profitability within all our business areas, says Martin Nossman, CEO of Norion Bank.

CEO Martin Nossman and CFO Peter Olsson will go through the new financial targets during the conference call in connection with the year-end report for 2023 which will be held at 10:30 CET on 7 February 2024.

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.

This information is information that Norion Bank is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-02-06 13:30 CET.

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Norion Bank presents new financial targets

Source:MFN
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