1 Apr 2025
The subsidiary has today received notice from the Swedish Financial Supervisory Authority (SFSA) that a banking license has been granted in accordance with the Banking and Financing Business Act of Sweden.Swedish banking license granted
Reference is made to the stock exchange announcement from 31 October 2024, where Morrow Bank ASA (“the Bank” or “Morrow Bank”) reported that it was applying for a Swedish banking license through a Swedish subsidiary (to be renamed, Morrow Bank AB) fully owned by Morrow Bank ASA.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. Following the merger, the combined entity is intended to be listed on Nasdaq Stockholm. Morrow Bank expects to be operational in Sweden at the latest by January 2026. The Bank will in due course convene an extraordinary general meeting in Morrow Bank ASA to seek shareholder approval for the proposed merger. Subject to the necessary approvals by the board of directors and the general meeting, the Bank will seek final merger approvals from the Swedish and Norwegian Financial Supervisory Authorities.The announcement on Oslo Børs is available here.