Entercard - a wholly-owned subsidiary of Swedbank - has entered into an agreement to sell the non-performing part of its consumer finance portfolio to Brocc Finance and Intrum. The non-performing portfolio amounts to around SEK 4 billion.
To Swedbank, the sale will have the following financial effects:
The transaction is expected to close in the fourth quarter, subject to customary closing conditions and regulatory approvals.
Maria Caneman, Head of Investor Relations, phone: +46 72 238 32 10, e-mail: maria.caneman@swedbank.se
Love Liman Jacobsson, Press Officer, phone: +46 72 233 92 32, e-mail: love.liman.jacobsson@swedbank.se