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2016-10-28

Norwegian Finans Holding ASA: STRONG GROWTH AND EARNINGS DEVELOPMENT IN BANK NORWEGIAN

The group's comprehensive income amounted to 246.7 million kroner,
corresponding to an earnings growth of 31.7 million kroner compared with the
second quarter of 2016.
The earnings growth is explained by strong loan growth, stable margins, good
cost control and stable credit quality.

The strong customer and loan growth continued in the third quarter, with a
loan growth of 2.7 billion kroner, while deposits increased 2.5 billion
kroner. The bank recruited 94,700 new customers in the third quarter.
Bank Norwegian has a strong capital position with a common equity tier 1 ratio
of 14.0%. The bank strengthened the capital position further in the third
quarter by issuing 210 million kroner in Tier 1 capital and 100 million
kroner in Tier 2 capital.

The bank maintained its strong liquidity position in the third quarter due to
solid deposit growth.

At the end of the third quarter of 2016 the bank had a customer base of
852,600 customers, which can be broken down into 609,900 credit card
customers, 131,400 loan customers and 111,300 deposit customers.

Bank Norwegian is a wholly owned subsidiary of the listed company Norwegian
Finans Holding ASA. 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
offered consumer loans and deposit accounts, while credit cards were launched
in June 2016.

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 report for the third quarter of 2016 and
investor presentation for the third quarter 2016 available at:

https://www.banknorwegian.no/Pages/InvestorRelations.aspx?y=2016

If you have questions you may call;

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

https://www.banknorwegian.no

Bank Norwegian AS rapport 3 kvartal 2016
http://hugin.info/165770/R/2052344/768106.pdf
Norwegian Finans Holding ASA 3 quarter 2016 results presentation
http://hugin.info/165770/R/2052344/768103.pdf
Norwegian Finans Holding ASA rapport 3 kvartal 2016
http://hugin.info/165770/R/2052344/768105.pdf
Norwegian Finans Holding ASA report for the third quarter 2016
http://hugin.info/165770/R/2052344/768102.pdf

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This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq 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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