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Lea bank ASA – Swedish banking license granted

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Reference is made to the stock exchange announcement from January 31, 2024, where the bank reported that they were applying for a Swedish Banking License through a Swedish subsidiary (to be renamed, Lea Bank AB) fully owned by Lea bank ASA.

The subsidiary has today received notice from the Swedish Financial Supervisory Authority (SFSA) that a banking license has been granted according to the Banking and Financing Business Act (3 kap. 2 § lagen (2004:297) om bank- och finansieringsrörelse)

The banking license has been granted subject to the following conditions:

  • The licence must be activated within 12 months
  • There must be a minimum equity of 5 million EUR on activation date

Lea bank ASA aims to complete the redomiciliation to Sweden through a merger between Lea bank ASA and Lea Bank AB, with Lea Bank AB as the surviving entity. Subsequently, the combined company is planned to be listed on Nasdaq Stockholm.

The bank plans in due course to send out invite to an extraordinary general meeting in Lea bank ASA to seek approval for the merger. Depending on the approvals from the board of directors and the general meeting, the bank will seek approvals from the Swedish and Norwegian FSAs for a merger between the two entities.

This information is considered inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. The stock exchange announcement was published by Gard Haugen, CFO, Lea bank ASA on 11 June 2024.

Contact Information:

Oddbjørn Berentsen, CEO

Phone: +47 22 99 14 00

Email: ir@leabank.no

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