Interim report January-September 2020 Nordax Bank AB
Highlights January-September 2020 · Total lending amounted to SEK 27.1 billion (SEK 25.3 billion as of 31 December 2019). · Good growth in new lending in the first quarter but falling new lending in second and third quarters as Nordax, due to COVID-19, has taken a more cautious approach to new lending. · Nordax’s savings offer continued to attract many new customers, as a result of which total deposits grew to SEK 24.3 billion (SEK 19.2 billion as of 31 December 2019). · Total credit losses of SEK 329 million in the period, of which SEK 39 million consists of extra provisions