Transfer of Swedish mortgages from Bank of Åland Plc to Borgo AB completed

 

Bank of Åland Plc
Inside information
September 11, 2023, 14.00 EET

Transfer of Swedish mortgages from Bank of Åland Plc to Borgo AB completed

The previously announced second transfer of Swedish home mortgage loans from the Bank of Åland Plc (Ålandsbanken Abp) to Borgo AB was completed today. The nominal amount of the mortgage portfolio that was transferred is SEK 5.8 billion. The portfolio consists of loans mediated by ICA Banken and Söderberg & Partners Bolån. The transfer will not have any significant effect on the Bank of Åland’s earnings, but it frees up liquidity and capital.

A third transfer to Borgo of a smaller mortgage portfolio is planned to take place during 2024. 

For further information, please contact:

Peter Wiklöf, Managing Director and Chief Executive, Bank of Åland Plc, tel. [phone]