Nordax Group AB (publ) is a leading niche bank in Northern Europe focusing on large, long duration personal loans, morgages, credit cards and deposit accounts.

Nordax was established in 2003 and listed on Nasdaq Stockholm in 2015. Nordax was taken private by Nordic Capital VIII and Sampo in 2018, and in 2019 Nordic Capital IX and Sampo became the largest shareholders in publicly listed Norwegian Finans Holding ASA (“Bank Norwegian”). In July 2021, Nordax launched a recommended voluntary cash offer for all shares in Bank Norwegian. The public offer was completed in November 2021.

Together, Nordax and Bank Norwegian will have the necessary scale and resources to be a leading force in shaping the future of consumer finance, offering innovative solutions that will challenge the large incumbent banks for the benefit of customers.

The combination brings together two leading businesses with distinct but complementary strengths, creating a powerful digital platform for continued expansion. By capitalising on their respective strengths, collaborating and jointly innovating within the European banking sector, they will be able to further develop their already best-in-class digital customer experience. The combined company will have approximately two million customers in the Nordic region, around 470 employees and a total loan book of approximately SEK 65 billion (as of September 30, 2021).

As committed and active owners, with extensive financial sector expertise Nordic Capital and Sampo fully support the combination of the two banks.

Sector

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Financial Services

Key Information

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Revenues 2020*, **

EUR 697 million

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Employees

470

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Ownership

Fund VIII

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Head office

Stockholm, Sweden

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Investment date

2017

* Reported Nordax and Bank Norwegian, ** Operating Income