Interim report January-March 2020 Nordax Bank AB
Highlights January-March 2020 ·Continued growth in new lending, including in personal loans, mortgage loans and equity release mortgages. · Since the end of March, however, new lending has decreased significantly in all of Nordax’s markets, as Nordax, due to the Covid-19 pandemic, has taken a more cautious approach and Nordax’s expectation is that new lending in the second quarter will fall below new lending in the first quarter. · Total lending amounted to SEK 26.3 billion (SEK 25.3 billion as of 31 December 2019). Growth was negatively affected by the significant