Bank Norwegian

What Bank Norwegian does

Bank Norwegian is the Norwegian branch (NUF) of Sweden-based NOBA Bank Group AB (publ), operating as a digital-first consumer bank across six European countries: Norway, Sweden, Denmark, Finland, Germany, and Spain. The bank offers an integrated product suite of unsecured lending and savings products targeted at individual retail customers. Core offerings include a fee-free credit card with up to 150,000 NOK limit, 45 days interest-free period, and Norwegian Reward CashPoints integration; consumer loans (Forbrukslån) from 5,000-600,000 NOK; refinancing loans up to 800,000 NOK; flexible credit lines (Rammelån) up to 400,000 NOK; car loans including a Green Car Loan at 8.49% nominal; and three tiered savings accounts paying 3.50%, 4.00%, and 4.65% interest. Additional sub-purpose consumer loans target driver's license, vacation, wedding, security deposit, tractor, and garage financing. Ancillary products include dental, travel, payment protection, ID theft, and car rental insurance.

The revenue model is anchored on net interest margin — interest income from the unsecured loan book (effective rates 10.43% to 36.85%) net of interest paid on deposits (3.50%-4.65%), supplemented by credit card interest (21.99% nominal/24.4% effective annual), a 1.75% foreign exchange margin on card transactions, and recurring insurance premiums. The technology stack is a web and mobile application with BankID-based authentication and Vipps payment integration; multichannel invoicing and payment operations are delivered via a three-year agreement with Tieto Indtech running across all six jurisdictions. All products are distributed directly to consumers on a self-service basis through the digital platform, with no branch network and no intermediated channel.

At the parent NOBA level, the loan book reached SEK 128 billion serving over two million customers as of 2025 following prior acquisitions of Svensk Hypotekspension in 2019 and Bank Norwegian ASA in 2021. NOBA Bank Group AB (publ) completed its IPO on Nasdaq Stockholm in September 2025 at SEK 70 per share, placing 21.7% of outstanding shares for approximately SEK 7,609 million. Bank Norwegian continues to operate as the Norwegian branch under NOBA, with Klara Lise Aasen as CEO, registered office at Snarøyveien 36, Fornebu, Norway.

Name

Bank Norwegian

Legal name

NOBA Bank Group AB (publ) NUF

Website

https://banknorwegian.no

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

101–250 employees

Short description

Bank Norwegian is the Norwegian branch of NOBA Bank Group, operating a digital-first consumer bank across six European countries with a portfolio of fee-free credit cards, unsecured consumer loans, refinancing, flexible credit lines, car loans, and tiered savings accounts.

Ownership category

akta.pro rank

Headquarters

HQ city

Fornebu

HQ country

Norway

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Technology or R&D, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Interest Income: Primary revenue from interest on consumer loans including forbrukslån (personal loans), refinansiering (refinancing), rammelån (credit lines), and billån (car loans). Loans range from 5,000 to 600,000 NOK with nominal rates from 9.79% to 18.99%.
2. Credit Card Fees and Interest: Revenue from credit card transactions including annual fees (free), interest on carried balances (21.99% nominal/24.4% effective annual rate), and foreign exchange margins (1.75%).
3. Savings Account Interest Spread: Interest spread earned on customer deposits. Savings accounts offered at 3.50%-4.65% interest rates.
4. Insurance Products: Supplementary insurance products including travel insurance, dental insurance, car rental insurance, and payment protection insurance with monthly/annual premiums.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

Bank Norwegian is a digital-first consumer bank that provides unsecured personal loans, refinancing, credit lines, car loans, no-annual-fee credit cards with travel insurance and CashPoints rewards, and tiered savings accounts to individual consumers. It distributes all products directly through its website and mobile application, with BankID authentication and Vipps payment integration, operating across Norway, Sweden, Denmark, Finland, Germany, and Spain as a branch of NOBA Bank Group.

Product overview

Bank Norwegian is a Norwegian branch of Swedish NOBA Bank Group, operating as a digital-first bank across Norway, Sweden, Denmark, Finland, Germany, and Spain. The company offers a unified portfolio of unsecured lending products and savings accounts through online and mobile channels. The core product suite includes a fee-free credit card with CashPoints/cashback rewards, consumer loans (Forbrukslån) ranging from 5,000-600,000 NOK, refinancing solutions up to 800,000 NOK, and flexible credit lines up to 400,000 NOK. Savings offerings comprise three tiered accounts with varying interest rates (3.50%-4.65%) and withdrawal flexibility. All lending products are unsecured, requiring no collateral. The bank leverages BankID for authentication and offers Vipps integration for payments. Partnerships include Tieto Indtech for multichannel invoicing services and Norwegian Reward for loyalty program integration.

Differentiator

Problem solved

Functional benefit

Products and services

• Bank Norwegian Credit Card No-annual-fee credit card with up to 150,000 NOK credit limit, up to 45 days interest-free period, cashback and CashPoints rewards on purchases, and included travel insurance. Designed for individual consumers in Norway and other Bank Norwegian markets.
• Consumer Loan (Forbrukslån) Unsecured personal loan for individual consumers ranging from 5,000 to 600,000 NOK with 1–5 year repayment, used for general purposes such as home renovation, education, and other financing needs.
• Refinancing (Refinansiering) Loan product that consolidates existing debts and credits into a single loan with potentially better terms. Loan size 5,000–800,000 NOK with 1–15 year repayment.
• Credit Line (Rammelån) Flexible revolving credit line up to 400,000 NOK with interest charged only on the utilised amount, and no establishment or monthly fees on unused credit.
• Green Car Loan (Grønt Billån) Unsecured loan for financing electric or hybrid vehicles ranging from 5,000 to 350,000 NOK, with a nominal rate of 8.49% and effective rate of 8.95%.
• Car Loan (Billån) Unsecured loan for financing car purchases up to 600,000 NOK for individual consumers.
• Savings Account (Sparekonto) Standard savings account paying 3.50% interest from the first krone deposited, free to open, with no annual fee and free transfers.
• Savings Account Plus (Sparekonto Pluss) Higher-yield savings account paying 4.00% interest, with six fee-free withdrawals per calendar year and a 0.5% fee on further withdrawals.
• Savings Account 31 (Sparekonto 31) High-yield savings account paying 4.65% interest, with fee-free withdrawal provided 31 days notice is given; otherwise a 1.5% withdrawal fee applies.
• Insurance Products Add-on insurance products for individual consumers, including dental insurance, payment protection insurance, ID theft insurance, car rental collision damage waiver, and annual travel insurance.

Quantifiable outcome

• Credit card recognized as 'Best Loyalty Credit Card' in Europe and Africa

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Partnerships

Three partnerships are on record, tiered core and flagship.

• Tieto IndtechcoreTechnology or Integration · 3 December 2025Three-year strategic agreement where Tieto Indtech delivers multichannel services for invoicing and payment integration across six countries (Norway, Sweden, Denmark, Finland, Germany, Spain). Enables seamless customer communication and integration across diverse regulatory landscapes while streamlining operations and reducing costs.
• NOBA Bank GroupcoreStrategic or Co-development PartnerBank Norwegian is a Norwegian branch of Swedish NOBA Bank Group AB (publ). The group acquired Bank Norwegian ASA in 2021 and operates shared infrastructure, deposits, and lending operations across Nordic markets.
• Norwegian (Airline)flagshipGTM or Marketing PartnerBank Norwegian Credit Card is linked to Norwegian Reward profiles, allowing cardholders to earn CashPoints on purchases that can be redeemed for Norwegian flights and upgrades. The card has won 'Best Loyalty Credit Card' award in Europe and Africa.

Scale indicators3 records

Recent moves5 records

Expansion highlights5 records

Others

• Sambla: Sambla is a Swedish loan broker that helps consumers compare and apply for personal loans, refinancing, and consumer credit. Operates in the same Nordic consumer credit ecosystem as Bank Norwegian but does not lend on its own balance sheet.

Broad incumbents

• DNB: DNB is Norway's largest financial services group, offering consumer loans, credit cards, and savings alongside corporate and investment banking. Broad incumbent competitor to Bank Norwegian in Norwegian retail banking.
• SpareBank 1: SpareBank 1 is an alliance of Norwegian savings banks providing consumer loans, mortgages, credit cards, and savings products nationwide. Broad incumbent with overlapping retail offerings versus Bank Norwegian's Norwegian franchise.

Direct peers

• Instabank: Instabank is a Norwegian digital consumer bank offering unsecured personal loans and savings accounts. Directly comparable to Bank Norwegian's forbrukslån and savings products in the Norwegian market.
• Resurs Bank: Resurs Bank is a Swedish consumer finance specialist offering credit cards, personal loans, and retail financing across the Nordics. Closely comparable to Bank Norwegian in product mix, unsecured lending focus, and Nordic digital distribution.
• Svea Bank: Svea Bank is a Nordic financial services group providing consumer finance, invoice factoring, and small-business lending across multiple European countries. Comparable in product breadth and multi-country Nordic presence.
• Komplett Bank: Komplett Bank is a Norwegian digital challenger bank offering consumer loans, credit cards, and savings accounts. Direct Norwegian-market competitor with overlapping products and digital-first GTM.
• BB Finans: BB Finans is a Norwegian consumer finance provider offering unsecured personal loans, refinancing, and consumer credit. Directly comparable to Bank Norwegian's forbrukslån and refinancing products in the Norwegian market.
• TF Bank: TF Bank is a Swedish digital bank offering consumer credit, credit cards, and savings across several European markets. Comparable multi-country digital consumer finance model and product mix.

Emerging players

• Klarna: Klarna is a Swedish fintech offering consumer credit, BNPL, and increasingly full consumer banking products across Europe. Emerging player with partial overlap in consumer credit distribution and digital onboarding.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/banknorwegian
• LinkedInlinkedin.com/company/bank-norwegian

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bank Norwegian