Bank of Åland Q1-Q3 2019 Financial Results
20th September 2019: "Bank of Åland, ICA Bank, Ikano
Bank, Söderberg & Partners and Borgo starting mortgage
company together in Sweden" Part 1/2 of the press
release:
The Bank of Åland (Ålandsbanken), ICA Bank (ICA Banken), Ikano Bank, Söderberg & Partners and Borgo have signed an agreement on establishing a joint mortgage
platform on the Swedish market.
"Launching a new mortgage company together with such strong and well-established business partners as ICA Bank, Söderberg & Partners and Ikano Bank ensures a long-term
approach and stability, providing good potential to offer home mortgage loans on favourable terms. This will ultimately benefit us and our partners, but naturally also Swedish
mortgage customers," says Peter Wiklöf, Managing Director of the Bank of Åland.
The Bank of Åland and its information technology subsidiary Crosskey will supply platform solutions for the new mortgage company, as well as contributing their existing
knowledge about mortgage management.
"By establishing a new mortgage company, we can compete in the mortgage market in a completely different way and further enlarge our market presence. Doing this together
with such stable and strong partners involves a number of advantages that will ultimately benefit our customers. ICA Bank's aim is to offer a smart, simple package solution for
everyday finances, and obviously this includes a competitive home loan offering," says Marie Halling, CEO of ICA Bank.
The new mortgage company will apply for permits according to the same regulations as other mortgage companies in the Swedish market. Part of its funding will come from
covered bonds - which provide access to a proven and liquid funding source that will make the home loans in the platform competitive in the Swedish market.
"At Ikano Bank, we see supplying mortgages on customer-friendly terms as a natural part of our offering. With this in place, we will have an opportunity to influence the shape
of our mortgage offering, which will benefit our customers and further strengthen our product range. So we are pleased to join the Bank of Åland, ICA Bank, Söderberg &
Partners and Borgo now in establishing a strong new mortgage institution in the Swedish market," says Patrik Hankers, Country Manager for Sweden at Ikano Bank.
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