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Bluestep Bank divests its personal loan portfolio to Svea Ekonomi

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Bluestep Bank AB has entered into an agreement with Svea Ekonomi to divest its portfolio of unsecured personal loans

In the beginning of February 2020 Bluestep Bank decided to stop offering personal loans in order to entirely focus the strategic direction on mortgage products. The personal loan portfolio has since then been in run-off. Currently the personal loans represent 5% of Bluestep’s loan portfolio. The remaining 95% is mortgages.

Discussions about potential divestment were initiated during the fall and interest for the portfolio has been strong.
“It feels reassuring that the personal loan portfolio is now being taken over by Svea Ekonomi, who has solid experience and offers financing solutions throughout Europe to both private individuals as well as to companies. They will continue to take care of our customers in the best possible way. At the same time, we see this as an important step for Bluestep when we clarify our offer as a Nordic mortgage bank,” says Bluestep Bank's CEO Björn Lander.

The sale means that the existing personal loans will continue as before, and the customers do not need to act in any way. In the future however, the loans will be managed by Svea Ekonomi.

As per the 30th June 2020 the divested portfolio had an outstanding loan amount of SEK 863 million.

Svea is a financial company group, founded 1981. With 2,000 employees across Europe - they create administrative and financial solutions for both individuals as well as for small and large companies. Read more at svea.com.

For further information, please get in touch with:

Björn Lander, Chief Executive Officer
Tel: +46 8 501 004 00
Mail: bjorn.lander@bluestep.se

Louise Bergström, Head of Investor Relations
Tel: +46 73 142 74 66
Mail: louise.bergstrom@bluestep.se

Bluestep Bank AB (publ) is publishing this information which is obliged to be publicly available pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above at 15:40 CET on 2020-11-27

Bluestep is a market leading, solution-oriented lender that offers mortgages to customers in Sweden, Norway and Finland. Since 2005 we have helped thousands of customers to improve their economic circumstances in a sustainable way through lending and saving services. Bluestep focuses on understanding and helping customers who for some reason are unable to receive loans from their traditional bank. Personal solutions, enabling customers to improve their economic circumstances is one of the key focus areas. Bluestep Bank AB (publ) is a banking limited company that is under the supervision of "Finansinspektionen" (Swedish FSA). Additional information about Bluestep can be found on our corporate website www.bluestepbank.com.

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