Instabank ASA sells portfolio of non-performing loans in Finland

Instabank has entered into an agreement to sell a non-performing loans (NPL) portfolio in Finland of a gross booked value of approximately 2,8 MEUR, representing the oldest part of the NPL portfolio. 

As a result of the transaction, Instabank’s total NPL ratio will drop from 7,1 % to 6,3 %, based on the situation at the end of the third quarter of 2021. The transaction improves capital ratios, reduce NPL exposure and confirms the valuation of impaired loans.

The transaction will be finalised in December 2021 and is expected to have a positive earnings impact in Q4 2021.

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.