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Bergen, 21 August 2019. Sbanken distributes more than 400 mutual funds on an open digital platform. Growth has been strong in recent years and the bank currently has more than 60,000 fund savings customers and a 5.5 % share of the Norwegian private retail savings market. In order to underpin its strong growth ambitions Sbanken now launches a new pricing model and cuts the price on more than 400 mutual funds.
Sbanken has a proven track record of making saving easier for retail customers by delivering innovative solutions with high user-friendliness. The bank was the first to launch an open mutual fund platform, abolishing transaction fees and introducing ethical labelling.
The new pricing model for fund distribution is based on transferring kick-backs from fund providers to the customers and introducing a transparent platform fee. By this, Sbanken facilitates a reduction in the customers’ cost of saving in mutual funds.
“Sbanken’s open digital platform for mutual funds has solid growth, and we expect the new pricing model to make a significant contribution to strengthen further growth”, says CEO Magnar Øyhovden.
Contact details, Investor Relations
Henning Nordgulen, CFO, Sbanken ASA, +47 952 65 990
Geir Holen, Head of communications, Sbanken ASA, +47 959 68 286
About Sbanken ASA
In April 2000, Sbanken was launched as the first purely digital bank in Norway. Today, the bank offers a comprehensive range of financial products and services to individuals, households and SMEs 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 30 June 2019, Sbanken had total assets of NOK 95 billion. For more information, see sbanken.no/investor-relations.