(Bloomberg) -- Swedish financial services group NOBA Bank Group AB has identified “several exciting opportunities for expansion” in the Nordic region, according to Chief Executive Officer Jacob Lundblad.
The Stockholm-based bank, which in the summer said it was evaluating an initial public offering, sees “great potential” to grow its secured product offering and launch products aimed at small and medium-sized companies, the CEO said in the firm’s earnings report.
NOBA, owned by Nordic Capital and Sampo Oyj, had lined up banks including Goldman Sachs Group Inc., JPMorgan Chase & Co. and Carnegie Investment Bank AB to work on a potential IPO, Bloomberg reported in August. The banking group could be valued as high as €4 billion ($4.2 billion) in a listing, according to people familiar with the matter.
On Friday, the bank reported operating profit of 807 million kronor ($73.6 million) for the third quarter, compared with 373 million kronor a year ago. Its loan portfolio increased by 13% to 121.2 billion kronor. The group’s brands include Nordax Bank, Bank Norwegian and Svensk Hypotekspension.
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