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22 December 2020

Instabank ASA sells portfolio of non-performing loans in Norway

Instabank has entered into an agreement to sell a significant part of the bank’s non-performing loans (NPL) in Norway representing a gross booked value of approximately 160 MNOK. As a result of the transaction, Instabank’s total NPL ratio drops from 10,4 % to 5,5 % based on the situation per the end of the third quarter 2020.

The transaction improves capital ratios, significantly reduce non-performing loans exposure and confirms the valuation of impaired loans going forward as the transaction is operating profit neutral.

The transaction will be closed at the end of the fourth quarter 2020.

For further information, please contact: Robert Berg, CEO rb@instabank.no, +47 974 85 610

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

About Instabank

Founded in Oslo in 2016, Instabank ASA is a Nordic digital bank focused on delivering simple, efficient, and accessible financial services. Since its inception, the Bank has combined modern technology with prudent banking principles to create a scalable business built around simplicity, transparency, and customer value.