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 93 MNOK. As a result of the transaction, Instabank’s total NPL ratio will drop from 7.7 % to 5,5 % based on the situation per year-end 2021. The transaction includes the oldest part of Instabank’s non-performing loans. After the transaction, the remaining NPL portfolio will be less than two years old and from after the debt register was introduced in Norway.

The transaction improves capital ratios, significantly reduces NPL exposure and confirms the valuation of impaired loans as the transaction is operating profit positive. 

The transaction is expected to be closed in the 1st quarter of 2022.

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.