Resurs Bank, a wholly owned subsidiary of Resurs Holding, was today awarded an investment grade rating from Nordic Credit Rating (NCR) of BBB-, stable outlook.
In addition to capital from shareholders, the operations of Resurs Bank are financed by deposits from the public, the issued MTN bonds and the securitisation of certain loan receivables (ABS financing). The framework of Resurs Bank’s MTN programme amounts to SEK 8 billion and on 31 March 2019 the bank had 14 outstanding issues distributed between a nominal SEK 4,750 million and NOK 1,000 million.
“Our strategy is to actively work with various sources of financing in order to use the most suitable source of financing at any given time and create diversified financing in the long term. This credit rating from NCR provides us with better conditions for securing financing on advantageous terms,” says Peter Rosén, CFO and Head of IR at Resurs Holding.
Resurs Holding (Resurs), which operates through the subsidiaries Resurs Bank and Solid Försäkring, is the leader in retail finance in the Nordic region, offering payment solutions, consumer loans and niche insurance products. Since its start in 1977, Resurs Bank has established itself as a leading partner for sales-driven payment and loyalty solutions in retail and e-commerce, and Resurs has thus built a customer base of approximately 5.9 million private customers in the Nordics. Resurs Bank has had a banking licence since 2001 and is under the supervision of the Swedish Financial Supervisory Authority. The Resurs Group operates in Sweden, Denmark, Norway and Finland. At the end of the first quarter of 2019, the Group had 732 employees and a loan portfolio of SEK 29.2 billion. Resurs is listed on Nasdaq Stockholm.