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Thursday, 15 February 2018

Monobank ASA: MONO-ME Monobank to launch own credit card in May and Widerøe card in September

Monobank ASA    

Published: 07:03 CET 15-02-2018 /GlobeNewswire /Source: Monobank ASA / : MONO-ME /ISIN: NO0010752231

Monobank ASA: MONO-ME Monobank to launch own credit card in May and Widerøe card in September

Monobank is in the final stages of testing its credit card together with its partners Evry and Visa. The project is progressing in line with plan, and the company has decided to launch its Monobank Visa card in May and the Widerøe card in September.

The development of the joint credit card project with Widerøe and EuroBonus has progressed well during 2017. The launch plan has been revised, and the Widerøe card will be launched early fall 2018.

With the credit card project in the testing phase together with Visa and Evry, Monobank has decided to capitalise on the positive development of the project and launch a credit card under its own brand in May 2018. This launch will provide Monobank with valuable experience ahead the launch together with Widerøe and Eurobonus in September. Most costs associated with the credit card project have already been charged, and very limited extra costs will therefore be added in connection with the launch of a separate card.

"Monobanks uniqueness is the scalability and the flexibility in our platform. With the credit card development costs already charged this was a good opportunity to launch the product under our own brand. In addition, this first launch will provide us with valuable experience. I'm very much looking forward to bring the credit card project to completion and to reach two milestones; the Monobank credit card in May and launch the Widerøe card in September", says Bent Gjendem, CEO of Monobank ASA.



Bent H. Gjendem, CEO, +47 996 11 996

Lene Sjøbakk, CFO, +47 940 19 896


About Monobank:

Monobank is a digital bank offering unsecured lending to qualified private individuals in Norway and Finland. Operations started out of Bergen, Norway, in November 2015 after received its banking licence from the Financial Supervisory Authority of Norway. The bank also offers attractive deposit rates on its savings accounts. Deposits up to NOK 2 million are guaranteed by the Norwegian Banks' Guarantee fund, of which Monobank is a member. For further information, please visit the company web page www.monobank.no


This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.

This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of Nasdaq Corporate Solutions clients. Source: Monobank ASA, Starvhusgaten 4, Bergen 5014, Norge
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