October 31, 2017 / 9:01 AM / a year ago

Bank Norwegian aims for bigger bite of Nordic consumer loan market

OSLO, Oct 31 (Reuters) - Consumer lender Bank Norwegian, which is owned by Norwegian Finans Holding, hopes to raise its market share in neighbouring countries to a level similar to its home market, it said on Tuesday.

“We have significant growth ambitions in the whole Nordic region,” Chief Executive Officer Tine Wollebekk told analysts and reporters while presenting the firm’s third-quarter earnings.

Bank Norwegian now has a market share in Norway of about 17 percent, with a seven percent share in Finland and between three and four percent in Denmark and Sweden, the company added.

“That’s simply not acceptable for us. We are a Nordic company and we are aiming for a good market share in the whole region,” Wollebek said of Sweden, Denmark and Finland.

“We have to grow in the other countries at the same time as we keep growing also in Norway ... We see a strong profitability also going forward. We will maintain the levels we have seen now”. (Reporting by Joachim Dagenborg, editing by Terje Solsvik)

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