Contributing to financial health

We drive change and challenge the inflexible mainstream banks.

Combined skills and fine-tuned offerings

Nordax Group is a leading specialist bank in Northern Europe with strong owners in the form of Nordic Capital Fund IX, Nordic Capital Fund VIII and Sampo. We currently have around 2 million private customers, of which just under 1.2 million are credit card customers, in the Nordic countries, Spain, Germany and the Netherlands. We are a specialist bank that through responsible lending helps people make informed decisions for a life they can afford. We are a flexible complement to the major banks. Instead of quantity, we have specialised in a few selected products that we know best: personal loans, mortgages, equity release mortgages, credit cards and savings accounts.

In November 2021, Nordax Bank acquired Bank Norwegian ASA, which brought not only a large number of customers to the Group but also complementary strengths in product expertise, digital distribution and geographical presence. Since 2019, Svensk Hypotekspension, which is a specialist in equity release products, is a wholly owned subsidiary of Nordax Bank. The Group has around 600 employees, with offices in Stockholm, Malmö, Gothenburg and Fornebu, Oslo.

Cultural Values

We are Wholehearted

Thoughtfulness and responsiveness characterize our culture. 

We Collaborate

We stick together to reach our goals because real success is achieved when we share our knowledge and experiences.

We Take the Lead

We challenge old truths and try new things as well as encourage courage and curiosity.

Responsible lending

Times are changing. Permanent employment is in decline and more people struggle to get at mortgage with the traditional banks. At Nordax we keep the door open but without compromising the requirements for our customers’ financial stability.

Our underwriting process is our core competency; it's thorough, sound and data driven. We pride ourselves in not taking any shortcuts. Consequently, our customers can always feel confident they will be offered a loan they can afford. Our customers can always make well-informed decisions in their own time, based on transparent and clear pricing models. This is how we earn their trust.

A successful business going forward

Sustainable business is central for our success. We are convinced that it generates long-term value for us and our stakeholders. If we take responsibility today we increase our conditions to run a successful business going forward. Our sustainability focus areas are Financial inclusion & responsible lending and Sustainable organisation.

Nordax is a member of Global Compact, and our ambition is to support Global Compacts 10 principles as well as UN’s 17 goals for Sustainable Development.

Governance, internal control and risk management

In order to achieve a robust governance, internal control and risk management framework, Nordax has adopted the three lines of defence model. The three lines of defence model is the primary means to structure roles, responsibilities and accountabilities for decision-making and risk management.