Bank Norwegian facts for kids
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Native name
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Bank Norwegian, en filial av NOBA Bank Group AB (publ)
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| Privately held company | |
| Industry | Bank |
| Founded | 2007 |
| Headquarters | Fornebu, Norway |
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Area served
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Norway Sweden Finland Denmark Germany Spain |
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Key people
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| Products | Consumer loan, deposit and credit card |
| Revenue |  NOK 1,5 billion (2015) |
| NOK 539 million (2015) |
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| Total assets | NOK 17,5 billion (2015) |
| Total equity | NOK 1,7 billion (2015) |
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Number of employees
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160 (2022) |
| Parent | NOBA Bank Group AB (publ) |
Bank Norwegian is a digital bank from Norway. It helps people with things like loans, credit cards, and savings accounts. A digital bank means you do most of your banking online or through an app.
The company started in November 2007. Its main office is in Fornebu, Norway. Bank Norwegian serves customers in several countries. These include Norway, Sweden, Denmark, Finland, Germany, and Spain. The bank also works with Norwegian Air Shuttle on their special loyalty program. This program helps customers earn rewards. By 2021, Bank Norwegian had over 1.7 million customers.
How Bank Norwegian Started
In May 2007, the airline Norwegian Air Shuttle announced a new plan. They wanted to start a bank. Erik Jensen was chosen to be the CEO of this new company, Bank Norwegian. He had experience from another bank before this.
In September 2007, Bank Norwegian received an important license. The Norwegian Ministry of Finance gave them permission to operate as a commercial bank. This meant they could officially start offering banking services.
Early Programs and Growth
In October 2007, Norwegian Air Shuttle shared another exciting plan. They wanted to launch a special credit and bonus card program. This program was called Norwegian Reward. It offered great benefits. For example, customers could get up to a 20% bonus on international flights. They also earned 1% back on most credit card purchases.
Bank Norwegian began to grow internationally. They started offering services in Sweden in May 2013. Later, in December 2015, they expanded to Denmark and Finland.
Changes in Ownership
Bank Norwegian was listed on the Oslo Stock Exchange starting June 17, 2016. This meant people could buy and sell shares of the bank.
On August 19, 2019, a big change happened. Bank Norwegian's parent company announced that Norwegian Air Shuttle had sold all its shares in the bank. Cidron Xingu Limited bought these shares.
In November 2021, Nordax Bank AB completed its purchase of Bank Norwegian. This happened after a process where different companies made offers to buy the bank. Because of this, Bank Norwegian was removed from the Oslo Stock Exchange on November 15, 2021. On November 30, the two banks officially joined together. Jacob Lundblad is currently the CEO of the bank.
See also
In Spanish: Bank Norwegian para niños
