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Norwegian Finans Holding ASA: Annual Report 2015


The Norwegian Finans Holding (NFH) Group's profit after tax in the 4th quarter
was NOK 167.7 million, an improvement of NOK 39.9 million from the 3rd
quarter. The improvement in profit is explained by strong loan growth and
must be seen in relation to the unrealized losses on securities in the 3rd
quarter. The Swedish operations showed a profit after tax of NOK 24.5
million in the quarter.

The strong customer and loan growth continued in the 4th quarter, with a loan
growth of NOK 1,500 million, while deposits from customers increased NOK
1,680 million.

The NFH Group's profit after tax for 2015 was NOK 537.7 million, an increase
of NOK 191.9 million compared with 2014. The improvement in annual profit is
mainly explained by increased customer and loan growth, reduced funding costs
and improved cost-effectiveness. The bank recruited approximately 160,000 new
customers and shows a loan growth of NOK 4.5 billion in 2015.

The bank maintained its strong liquidity position in the 4th quarter. Bank
Norwegian is well capitalized with a consolidated common equity tier 1 ratio
of 13.0 %. Consolidated total capital ratio was 15.4 % at the end of the

Bank Norwegian started its operations in November 2007 and offers consumer
loans, credit cards and deposit accounts to retail customers distributed
through the Internet in the Nordic market. The bank 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
operations in Denmark and Finland, where it initially offers consumer loans
and deposit accounts.

At the end of 2015 the bank had a customer base of 607,700 customers, which
can be broken down into 446,400 credit card customers, 80,000 loan customers
and 81,300 deposit customers.

Bank Norwegian is an internet based bank offering simple and competitive
products to the retail market. The operations are based on leading e-commerce
solutions, synergies with the airline Norwegian, attractive terms for our
customers, cost-effective operations and effective risk selection.

For further information, see the annual report for 2015 and investor
presentation for the 4th quarter 2015 available at:


If you have questions you may call;

CEO Erik Jensen; phone: +4792634501 or
CFO Pål Svenkerud; phone: +4793403904


Bank Norwegian AS
Norwegian Finans Holding ASA

Norwegian Finans Holding ASA 4 quarter 2015 results presentation
Årsrapport 2015 Norwegian Finans Holding ASA
Annual Report 2015 Norwegian Finans Holding ASA
Årsrapport 2015 Bank Norwegian AS


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions 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


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