As part of its strategy to expand to the Scandinavian countries, BNP Paribas Personal Finance has recently acquired a 100% stake in SevenDay Finans AB, its consumer credit specialist in Sweden. SevenDay Finans AB, which used to be 75% owned by a group of private investors and 25% owned by the current management, will round off the activities of Express Bank, a commercial brand of BNP Paribas Personal Finance in this region.
Operating in Norway and Denmark since July 2014 under the brand Express Bank which was acquired during the integration of the LaSer Group, BNP Paribas Personal Finance is today extending its activities in Sweden with the acquisition of SevenDay Finans AB which has thus joined the scope of operations of Express Bank.
SevenDay Finans AB, is a Swedish credit company based in Stockholm and specialising in consumer credit. It also has a savings product offering. It has steadily increased its activity since it was created in 2007. It has assets worth 6.4 billion Swedish crowns (SEK). Its 70,000 customers benefit not only from credit and insurance solutions, but also from savings products.
"Sweden is the largest market of the Scandinavian countries and therefore a key country for the development of Express Bank, a BNP Paribas Personal Finance brand in this region. We now cover all the Scandinavian countries and can therefore offer all our Nordic partners a structure on a regional scale. For us, SevenDay Finans AB is the ideal partner because of its experience and expertise, especially in the brokerage field."
Christophe Jehan, director of Express Bank Nordics at BNP Paribas Personal Finance
"We are happy and proud to welcome the teams of SevenDay Finans within Personal Finance in order to write together a new chapter of our history. Thanks to this acquisition, Express Bank will double its business, expand its offering to savings products and consolidate its position on the Scandinavian consumer credit market. We have very strong ambitions in this region which is already highly digitised, digital and which has a stable economy. We are very happy to be able to bring Swedish people the effective and responsible solutions that characterise BNP Paribas Personal Finance whether it is through a direct relationship with our partners or through intermediates."
Laurent David, Chief Executive Officer of BNP Paribas Personal Finance
About Express Bank
Express Bank is a Nordic bank and a part of BNP Paribas Personal Finance, 100% subsidiary of BNP Paribas Group, the second largest European bank. Express Bank was established in 1987 and today the online bank serves hundred thousands of customers, which they offer insurance products and loans. The headquarter is located in Taastrup, where 174 people are employed.
The 30th of May 2017 Express Bank was elected ”Bank of the Year” in Denmark. The award was granted at the conference “Finance businesses of the Year” arranged by the finance media Finanswatch and Ernst & Young.
For further information, please consult expressbank.dk
About SevenDay Finans AB
SevenDay Finans AB was founded in 2007 and is a Stockholm-based, Swedish credit market company with 35 employees and focused on consumer finance. The total assets amounts to SEK 6,4 billion and the 70,000 customers are offered saving accounts, consumer loans and insurance.
For further information, please consult sevenday.se
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