Nordax has received approval to use the alternative standardized method for calculating operational risk
Nordax has received approval from the Swedish Financial Supervisory Authority to use the so-called alternative standardized approach to calculate the capital requirement for operational risks. If the method would have been used, as of June 30, Nordax Core Tier 1 capital ratio would have improved to 13.7% (compared with the reported 13.2%) and the total capital ratio to 15.7% (15.2%).
Operational risk 160926 pressrelease engOperational risk 160926 pressrelease engFor more information, please contact:
Andreas Frid, Head of Investor Relations
Phone: +46 705 290 800
E-mail: andreas.frid@nordax.com
About Nordax
Nordax is a leading niche bank in Northern Europe providing personal loans and deposit accounts to more than 100,000 customers in Sweden, Norway, Finland, Denmark and Germany. Nordax employs about 200 people, all working in its office in Stockholm. The underwriting process is Nordax’s core competency; it is thorough, sound and data driven. Nordax’s customers are financially stable individuals. The typical customer is 49 years old and has an income above the national average. As of June 30, 2016 lending to the general public amounted to SEK 11.8 billion and deposits amounted to SEK 6.3 billion. Nordax has been supervised by the Swedish Financial Supervisory Authority since 2004 and deposits are covered by the Swedish deposit guarantee scheme. Read more on www.nordaxgroup.com. For more information about Nordax’s customer offerings, read more on each country’s web site: www.nordax.se, www.nordax.no, www.nordax.fi and www.nordax.de.
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