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Eurocard acquires DNB's portfolio of corporate credit cards in Norway


February 7, 2014 - London

Eurocard has acquired DNB's portfolio of credit cards issued to companies in Norway. In total, the acquisition covers around 19,000 customers and 85,000 issued credit cards. As part of the agreement, DNB will continue to offer customers corporate credit cards issued by Eurocard in Norway.

Through this agreement, Eurocard further strengthens its market position in Norway and the Nordic region, and lays a long-term foundation to provide leading products and services at attractive terms.

"We are pleased to have established this partnership, and we will work hard to ensure that our new customers have strong offerings and a good customer experience," says Lennart Erlandson, Chairman of the Board of Directors at Eurocard.

"We evaluated several options on how to develop and maintain our corporate credit card products in Norway. We are convinced the best solution is to engage a professional and competitive external supplier and simultaneously transfer the customer portfolio to a partner. We are pleased that we have reached an agreement with Eurocard to carry this out," says Morten Guldhaug, Executive Vice President, DNB Finans.

Eurocard will take over the acquired operations in the fourth quarter of 2014.

An application has been submitted to the Financial Supervisory Authority of Norway regarding the cooperation between DNB and Eurocard

Eurocard is a leading Nordic payment and credit card provider. Since 1965, Eurocard has helped companies and private individuals gain financial control and cost-savings through smart, accessible and cost-efficient solutions. Learn more about our services at www.eurocard.se.

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Further information
Lennart Erlandson, Chairman of the Boards of Directors at Eurocard, +46 70 513 7111
Kerstin Ottosson, Communication Officer, Eurocard, +46 70 660 5200

Press release PDF



This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Eurocard via Globenewswire

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GlobeNewswire

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