Vinge has advised Morrow Bank ASA in connection with its subsidiary Morgon Finans AB (under name change to Morrow Bank AB) being granted a Swedish license to conduct banking operations by the Swedish Financial Supervisory Authority.
Morrow Bank is a niche-bank with the ambition to create long-term value by offering various financing solutions primarily to consumers in the Nordic market. Morrow Bank's strategy is based on a digital, scalable and efficient operating model combined with a strong focus on risk control. In an increasingly digital market, Morrow Bank focuses on creating customer value through flexible solutions and efficient and user-friendly processes. The product portfolio includes consumer loans, credit cards, savings accounts and various insurance products.
Morrow Bank intends to complete a redomiciliation to Sweden through a cross-border merger between Morrow Bank ASA and Morrow Bank AB, with Morrow Bank AB as the surviving entity. Morrow Bank ASA is listed on the Oslo Stock Exchange and following the merger, the combined entity is intended to be listed on Nasdaq Stockholm.
Securing a banking license for Morrow Bank is a significant achievement that underscores our commitment and ability to delivering exceptional legal services tailored to our clients' unique needs. The application was approved in less than five months, highlighting the excellent cooperation with Morrow Bank and the quality of the application submitted. This milestone reflects the hard work and dedication of our team. We are thrilled to have contributed to Morrow Bank’s strategic expansion in the Nordic market and look forward to seeing the positive impact this will have on their operations and customer offerings," says Emma Stuart-Beck, responsible matter partner.
Vinge’s team mainly consisted Emma Stuart-Beck, Henrik Schön, Caroline Krassén, Elias Bohlin (Project Lead), David Flodin, Sara Hedgren and Ebba Gäbel (Financial Services) as well as Joel Wahlberg and Oskar Nilsson (Capital Markets).
Morrow Bank’s press release can be found here.
