Morrow Bank's has in recent years predominantly grown outside Norway, with
Finland and Sweden now accounting for more than 80% of the loan book.

While Finland accounts for the largest share of the loan book, Sweden represents
the leading cluster for consumer banking in the Nordic region.

Following an assessment of potential redomiciliation options and legal
preparations, the Bank today submitted its application for a Swedish banking
license to the Swedish Financial Supervisory Authority (SFSA).

"The rationale behind initiating the process of moving to Sweden is to safeguard
Morrow Bank's long-term competitiveness," commented CEO Øyvind Oanes.

In addition to improving access to talent and competent capital, a
redomiciliation to Sweden should enable a level playing field and allow the Bank
to compete on similar terms as its Swedish peers. With conditions similar to
Swedish peers, management estimates that the return on target equity could
increase to 20% in the mid-term vs the updated organic target of 12-14%. 

A SFSA decision is expected in Q2 2025. Given a positive outcome, the Bank will
seek to start operations in Sweden and transfer the listing of its shares from
Euronext Oslo Børs to Nasdaq Stockholm in 2026.
	
For further information, please contact:

Eirik Holtedahl, CFO 
tel: +47 96912291
email: ir@morrowbank.com


About Morrow Bank ASA
Morrow Bank is a Nordic niche bank offering personal loans, credit cards and
deposit accounts to consumers. The target group is creditworthy individuals with
stable personal finances and no payment remarks. Credit risk is managed largely
by automated processes for credit assessment and underwriting. The Bank has a
diversified and balanced distribution model utilizing both public and
proprietary channels. Operational efficiency and low cost are a foundation for
Morrow Bank, enabled by centralized operations, modern systems and digital
set-up.
To learn more, visit ir.morrowbank.com

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation article 7 and is subject to the disclosure requirements
pursuant to section 5-12 of the Norwegian Securities Trading Act. This stock
exchange announcement was published by Henning Fagerbakke, Head of Finance,
Morrow Bank ASA, on Thursday 31 October 2024 at 07:08 CET.