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Skandia continues divestment of Norwegian Skandiabanken

Bergen 14 April 2016: The Swedish life insurance company Skandia today announced that they are selling 25 percent of the outstanding shares in Skandiabanken ASA in Norway to the private equity fund Altor. 
- In Altor, Skandiabanken will get a shareholder with experience from the financial sector, says its chairman Niklas Midby.
 
- The board of directors and management team welcome Altor as a shareholder. Together with existing holders we will continue to create good customer experiences, further growth and increasing shareholder value, says Midby. 
 
Contact 
Niklas Midby, Chairman of the board of Skandiabanken ASA, telephone +46 70 559 5270, e-mail niklas.midby@skandiabanken.no 
 
About Skandiabanken ASA
In April 2000, Skandiabanken was launched as the first pure digital bank in Norway. Today, the Bank offers a comprehensive range of financial products and services to individuals and households in Norway within payments and card services, deposit-based savings, investment products, long-term loans and short-term loans. The Bank has no branches and all products and services are offered directly through the digital platform which is available on a broad range of user devices. As of end 2015, Skandiabanken had 380,731 account customers with a balance, and total assets of NOK 65,6 billion. www.skandiabanken.no