Nordax intends to discontinue new lending in Germany
After a strategic review, Nordax has made a decision to cease new lending of private loans in the German market.The background to the decision is primarily that profitability in the German market has not reached the desired levels. Existing customers and the current loan portfolio in Germany will continue to be managed by Nordax. Nordax has been operating in the German market since 2012 and as of 31 March 2019 lending amounted to SEK 982 million, which corresponded to just below 5 per cent of Nordax’s total lending. Nordax will continue to accept deposits from the general public in Germany.