Multitude Bank Acquires Significant Stake in Norwegian Digital Challenger Lea Bank

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Multitude Bank, a Malta-based wholesale banking institution, has taken a substantial step in its expansion by acquiring a 9.9% stake in Lea Bank, a publicly-listed Norwegian digital challenger bank. This marks the first phase of a strategic investment, with an additional 8.7% stake already under contract, pending regulatory approval from the Norwegian Financial Authority and the Swedish Financial Supervisory Authority.

Upon completion, the combined 18.6% ownership will position Multitude Bank as a key shareholder in Lea Bank, with the total investment amounting to approximately €15 million. The acquisition is being funded entirely through Multitude Bank’s existing liquidity reserves.

Founded in 2016, Lea Bank has quickly established itself as a prominent player in the digital banking sector, providing consumer loans and deposit services to over 70,000 customers across Europe. The bank recently secured a banking license in Sweden and has announced plans to list on Nasdaq Stockholm in 2025, in addition to its current listing on the Oslo Stock Exchange.

Multitude Bank, the wholesale banking arm of Finland’s Multitude PLC, stated that the investment is anticipated to deliver strong financial returns through dividends and income growth. Lea Bank’s expansion and upcoming IPO are expected to further enhance its market presence and create substantial value for its shareholders.

This acquisition underscores Multitude Bank’s commitment to broadening its presence in the European financial landscape and aligns with its strategic goal of partnering with innovative digital banks that demonstrate strong growth potential.

About Multitude Bank:
Multitude Bank operates as the wholesale banking subsidiary of Multitude PLC, a Finnish financial services group. The group also includes Ferratum, which offers consumer banking services, and CapitalBox, which focuses on SME banking. The acquisition of a major stake in Lea Bank complements Multitude’s existing portfolio and strengthens its position in the European digital banking market.

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