Collector Bank AB has today, 5 September 2023, formally changed its corporate name to Norion Bank AB.
On 28 March 2023, a press release was published stating that the Board of Directors of Collector Bank AB proposed changing the corporate name from Collector Bank AB to Norion Bank AB. The bank has now received the approvals required to change the corporate name. Collector Bank AB has therefore formally changed its name to Norion Bank AB today, 5 September 2023.
The change of corporate name reflects the strategic transformation journey the company has carried out, moving from a digital challenger bank to a Nordic financing bank with clear focus on balanced and profitable growth. The name change also clarifies the customer offering as the business nowadays is carried out under three brands:
- Norion Bank (the business area Corporate and Real Estate)
- Walley (the business area Payments)
- Collector (the business area Consumer)
- The name change is a natural step for Norion Bank that has carried out major strategic changes in recent years. I am pleased with the company's progress and the potential and opportunities that lie ahead. The introduction of three brands also clarifies the company's offering in full. The corporate name Norion Bank has also become the brand for the business area Corporate and Real Estate. The business area amounts to close to 70% of the company's total loan portfolio today, and has been the main driver of the company's profitable growth in recent years, says Erik Selin, Chairman of the Board, Norion Bank AB.
Business will continue to be conducted through Norion Bank AB and the corporate organization number (556597-0513) will remain unchanged. The company's Norwegian branch's name will be changed to "Norion Bank AB, Norge filial" and the company's Finnish branch's name will be changed to "Norion Bank AB, Suomen sivuliike" upon registration in the trade registers.
The share's ticker will shortly be changed from 'COLL' to 'NORION' on Nasdaq Stockholm and the company's bond listed on Oslo Børs will shortly be traded under the new ticker 'NORI' (previously 'COBK'). The instrument tickers for the company's outstanding bonds will be changed in accordance with the list below. The ISIN-codes for the company's share (SE0017831795) and outstanding bonds will remain unchanged.
Outstanding bonds that will receive new instrument tickers
- ISIN NO0011152449: Ticker NORI01 (previously COBK01)
- ISIN SE0012377687: Ticker NORION01 (previously COLLB3)
- ISIN SE0015811112: Ticker NORION02 (previously COLLB5)
- ISIN SE0013105137: Ticker NORION03 (previously COLLB7)
This information is subject to the disclosure requirements pursuant to Oslo Rule Book II - Issuer Rules. This information was submitted for publication through the contact persons set out above on 5 September 2023 at 08:00 CEST.
For more information, please contact:
Martin Nossman, CEO
Phone: +46 70 330 26 75
E-mail: martin.nossman@norionbank.se
Madeleine Mörch, Head of IR & Communications
Phone: +46 73 712 04 52
E-mail: madeleine.morch@norionbank.se
About Norion Bank
Norion Bank Group is a business-oriented Nordic financing bank. The Group's brands - Norion Bank, Walley and Collector - offer customized financing solutions that meet distinct needs in three customer segments: medium-sized corporates and real estate companies, merchants, and private individuals. As a specialist in financing solutions, Norion Bank Group is a leading complement to traditional large banks, with a vision of being the leading Nordic financing bank in its chosen segments.
Norion Bank offers corporate and real estate loans, as well as factoring for medium-sized corporates and real estate companies. The Walley brand offers flexible payment and checkout solutions to merchants and private individuals. The Collector brand offers personal loans and credit cards to private customers, as well as savings accounts to private individuals and companies. Norion Bank Group (formerly Collector Bank) was founded in 1999 and has offices in Gothenburg, Stockholm, Helsingborg, Oslo and Helsinki. Business is conducted through Norion Bank AB (public), which is listed on Nasdaq Stockholm.
