Morrow Bank AB (publ): The Swedish Financial Supervisory Authority approves the acquisition of MedMera Bank AB

The share purchase agreement was entered into with Kooperativa Förbundet ekonomisk förening (“KF”) on 24 March 2026.

“We are very pleased that the Swedish Financial Supervisory Authority has approved the acquisition of MedMera Bank,” said Øyvind Oanes, CEO of Morrow Bank. “This transaction represents an important strategic step for Morrow Bank and strengthens our position in the Nordic market. By combining our businesses, we are creating an even stronger base for offering attractive and innovative financial solutions to our customers.”

Finansinspektionen issued two decisions on 25 May 2026:

Ownership assessment (Chapter 14 of the Swedish Banking and Financing Business Act (2004:297), the “BFBA”):
Approval for Morrow Bank to directly acquire a holding corresponding to or exceeding 50% of the capital and votes in MedMera Bank. At the same time, Finansinspektionen has approved indirect acquisitions of 20–30% of the capital and votes in MedMera Bank by Morrow Bank's largest shareholder Kistefos AS, as well as by AS Holding and Christen Sveaas.

Approval of the share acquisition (Chapter 7, Section 12 of the BFBA):
Approval for Morrow Bank to complete the acquisition in accordance with its application, as the consideration exceeds 25% of the Bank's own funds.

The consideration consists of a cash component to KF and the issuance of new shares in Morrow Bank to KF, in line with what has previously been communicated.

Pursuant to these decisions, the acquisition shall be completed within three months, i.e. no later than 25 August 2026. Closing is expected to take place in July 2026, subject to the fulfilment of other customary closing conditions.
Following completion of the acquisition, MedMera Bank will form part of Morrow Bank's consolidated situation.

For more information, please contact:
Øyvind Oanes, CEO
Tel: +47 98 90 60 60
Email: ir@morrowbank.com