Nordax Annual Report and Sustainability Report has been published
During 2017, Jacob Lundblad was appointed new CEO of Nordax. A strategic review was performed, which included expanding the product range and Nordic Capital and Sampo become major shareholders in the company during the year.
In 2017 lending grew, adjusted earnings and capital position strengthened. Growth in the loan portfolio, increased cost-effectiveness and stable margins contributed to an improvement in the adjusted earnings. However, net profit decreased due to negative currency effects.
The sustainability report is included in the annual report, and where can read more about progress and future ambitions within the four focus areas responsible lending, employee wellbeing, solid business ethics and efficient use of resources. During the year, customer satisfaction increased and employee engagement increased, a new communication platform was developed and a Code of Conduct was established. Nordax started to climate compensate for the marketing material and continued digitization initiatives reduced paper usage in our operations. Managing the business responsible for long-term and sustainable value creation is central to Nordax business model.
The reports are available at https://www.nordaxgroup.com/en/investors/financial-reports/
For further information, please contact:
Andreas Frid, Head of Media and Investor Relations, tel: +46 705 29 08 00
Nordax has a vision to become the leading niche bank in Northern Europe. Today we offer service to more than 150,000 customers in Sweden, Norway, Finland and Germany. We are a complement to the major banks and concentrate on a few products in which we are experts. We specialise in helping people make informed decisions for a life they can afford. Nordax employs about 200 people, all working in its office in Stockholm. The underwriting process is Nordax’s core competency; it is thorough, sound and data driven. Nordax’s customers are financially stable individuals. The typical customer is 49 years old and has an income above the national average. As of Dece,ber 31, 2017 lending to the general public amounted to SEK 13.5 billion and deposits amounted to SEK 7.5 billion. Read more on www.nordaxgroup.com. For more information about Nordax’s customer offerings, read more on each country’s web site: www.nordax.se, www.nordax.no, www.nordax.fi and www.nordax.de.