PRESS RELEASE – FEB 7, 2025, 08:40
Instabank reports a profit after tax of 26.6 MNOK for Q4-24, with record growth in business lending and strategic steps to enhance its European presence. The bank will apply for a banking license in Finland, aligning with its pan-European ambitions and ensuring a level playing field within the EU regulatory framework.
Profitable Growth and Expansion
Instabank achieved a record-high business lending growth of 168 MNOK in Q4-24, confirming the value of the bank’s focus on the SME market. With a lending increase capacity of 2 billion NOK for 2025, the bank is positioned for continued expansion.
In addition to growth in corporate loans and mortgages, Instabank is also entering new markets. After launching a credit card in Finland, this spring, the bank will launch its credit card offering in Germany, marking its third product in the country. The expansion is supported by AI-driven efficiency enhancements, enabling fast, personalized services tailored to local consumer needs.
Strategic Move Towards Europe
Instabank’s board of directors has initiated the process of applying for a banking license in Finland. The framework and business environment for niche banks in Norway is still considered more restrictive and less predictable than those in Sweden and Finland, limiting growth opportunities and long-term competitiveness. Being tied to local regulations while competing and growing on a European level is also considered a possible barrier for expansion and speed.
By applying for a banking license in Finland, Instabank hopefully will be operating within a European regulatory framework soon, fostering a more competitive and growth-oriented banking environment. Finland’s regulatory stability and alignment with EU banking standards make it a compelling choice, supporting Instabank’s strategy of scaling across European markets. With imminent product launches in Germany and business lending expansion in Finland, a presence in an EU financial hub will strengthen the bank’s operational efficiency and strategic positioning.
The application process is expected to take approximately one year, during which the bank will evaluate the move’s implications and benefits. This step underscores Instabank’s commitment to long-term competitiveness and sustainable growth.
Key Highlights for Q4-2024:
About Instabank ASA: Instabank ASA is the Nordic challenger bank for both business and individual customers. We believe in challenging established norms and providing flexible solutions where others create complexity. Instabank operates in Norway, Finland, and Sweden, offering competitive savings, insurance, credit cards, home loans, and unsecured loan products to consumers and small and medium-sized businesses. Instabank also provides deposits in Germany through a partnership with Raisin Bank.
Instabank is a proud sponsor of the Norwegian Athletics Federation and is listed on Euronext Growth on the Oslo Stock Exchange under the ticker INSTA.
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