Bank Norwegian ASA

Bank Norwegian ASA is a Nordic digital bank focused on unsecured consumer credit, credit cards, and retail deposits. Established in 2007 in Oslo, it operates primarily in Norway, Sweden, Denmark, and Finland through app and web channels, without physical branches. The company was previously listed on Oslo Børs and became part of NOBA Bank Group AB (publ) following Nordax Bank AB (publ)’s acquisition completed in 2021, after which the listing was terminated; the Bank Norwegian brand continues to be used in its markets. Product scope typically includes a Visa credit card with variable interest, an interest-free grace period on purchases when paid in full, and fees on cash advances and late payments, along with unsecured loans for new borrowing and refinancing priced on risk-based terms; fees and limits vary by country. Savings products include flexible and term accounts, with deposits covered by the applicable national deposit guarantee schemes in each market, subject to statutory limits and eligibility criteria. Onboarding and servicing are fully digital, commonly using national eID solutions (e.g., BankID/MitID equivalents) for authentication and signing, and support is provided via online channels and call centers. The bank’s business model is concentrated in consumer lending, making asset quality sensitive to macro conditions and regulatory changes; Nordic regulators have tightened affordability and marketing rules for unsecured credit in recent years, influencing underwriting and growth. Funding relies largely on retail deposits, complemented by group-level wholesale funding within NOBA. Cardholders have standard network protections and strong customer authentication under PSD2; foreign currency conversion markups and revolving interest charges apply where relevant. Terms, interest rates, and loyalty benefits (including co-branded arrangements with Norwegian Air Shuttle’s program in certain markets) differ by jurisdiction and are subject to change, so customers should review local disclosures before applying.