Collector Bank launches savings account in Finland

Collector Bank is now strengthening its offering towards private individuals in Finland by launching a savings account with an interest rate of 0.6 percent. This will entail a reduction in the bank’s currency exposure by offering deposits in EUR, since part of the company’s lending is in the same currency.

Today, the Finnish operations include personal loans, payment solutions for e-commerce and retail chains, property financing, company credits and factoring. Now that private individuals in Finland are being offered savings accounts with interest, the market position will be further strengthened, while it will also be possible to finance lending with deposits in the same currency.

“We see the launch of a savings account as a positive addition to our product portfolio in Finland. By offering a savings account with interest, we improve our clients’ private finances and, at the same time, we gain inflows in EUR,” says Liza Nyberg, CEO of Collector Bank.

The new product launch is part of development that further strengthens Collector’s role as a leading digital player in the financial markets in Sweden, Finland and Norway. The Finnish savings account currently has an interest rate of 0.60 percent, as well as free deposits and withdrawals. Just as with the Swedish savings account, the Finnish one is covered by a government deposit guarantee of up to EUR 100,000.

Read more about our savings accounts and current interest rates in Sweden:
https://www.collector.se/privat/spara-pengar/

Read more about our Finnish savings account:
https://www.collector.fi/henkiloasiakkaat/saastotili/

 
For further information, please contact:

Liza Nyberg, CEO Collector, tel. +46 73 910 00 00, e-mail liza.nyberg@collectorbank.se

Clara Bolinder-Lundberg, IR Manager Collector, tel. +46 70 719 84 43 e-mail clara.bolinderlundberg@collectorbank.se

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About Us

Collector is an innovative, digital, niche bank that offers financing solutions to private and corporate customers. Since 2005, Collector has had annual organic revenue growth of 30% and profit growth (EAT) of 55%. Operations are comprised of the Retail and Corporate segments. Within the Retail segment, the Company is engaged in lending to private individuals, invoice and payments by installments to e-commerce and retail companies, credit card services and deposits. The Corporate segment includes factoring and company credits directed mainly at small and medium-sized enterprises, property finance, debt collection on behalf of clients (assignment debt collection) and the acquisition of portfolios of overdue receivables. The Company has offices in Gothenburg (the head office), Stockholm, Helsinki and Oslo. The Group is comprised of the Parent Company, Collector AB (publ); the wholly-owned subsidiary, Collector Bank AB, in which the main operations are conducted; and Colligent Inkasso AB Colligent Inkasso AS, which are active in commissioned services and debt collection. Collector is listed on the Nasdaq Stockholm Large Cap list.

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