Ferratum Group: expansion of international presence through market entry into Norway
(Thomson Reuters ONE) -
Ferratum Oyj /
Ferratum Group: expansion of international presence through market entry into
Norway
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Helsinki / Berlin, April 10, 2015 - Ferratum Oyj (ISIN: FI4000106299, WKN:
A1W9NS; together with its consolidated subsidiaries hereinafter "Ferratum Group"
or "Ferratum"), an international provider of mobile consumer loans headquartered
in Helsinki, has today launched its operations in Norway. With its entry into
the Norwegian market Ferratum now operates in 21 countries all over the world
and is consistently expanding its geographic reach. Back in January 2015,
Ferratum commenced its operations in Canada.
Ferratum is using the EU banking licence of Ferratum Bank Ltd for its business
in Norway. This licence enables the Ferratum Group to carry out regulated
transactions in all EU member states which, similar to Norway, require a banking
licence for this. The Ferratum Group will initially be offering conventional
microloans to private individuals. Credit Limit and PLUS Loan, two products
established in the financial year 2014, are to be introduced into the Norwegian
market over the period.
Jorma Jokela, founder and CEO of the Ferratum Group, stated: "The
diversification of our geographical presence is a key component of our growth
strategy to benefit from economies of scale, among other things. We are
delighted that our market entry into Norway marks another milestone in the
Ferratum Group's development. We see attractive market potential in Norway, also
owing to the high barriers to market entry which requires a banking licence for
commercial lending. We have also set our sights on the next target countries."
Ferratum is currently preparing the ground for commencing operations in Italy,
France and Turkey. Its growth strategy includes the medium-term goal of
expanding the Group's business activities to encompass 30 countries.
About Ferratum Group:
The Finnish Ferratum Group, a pioneer for mobile consumer loans in Europe,
offers short-term consumer loans. Ferratum's customers can utilize digital media
to apply for consumer credit in amounts varying between EUR 25 and EUR 2,000.
Managed by its founder Jorma Jokela, Ferratum has expanded rapidly since it was
founded in 2005: Ferratum has 1.0 million active and former customers who have
been granted one or more loans in the past and 2.8 million total user accounts
in its database (as of 31 December 2014). Ferratum is represented in 21 markets
(including Norway) and employs 383 people as of 31 December 2014.
Contact:
Ferratum Group
Dr. Clemens Krause, CFO
T: +49 30 88715308
F: +49 30 88715309
M: clemens.krause(at)ferratum.com
Ferratum Group
Paul Wasastjerna
Head of Investor Relations
T: +358 40 7248247
F: +358 20 741 1614
M: paul.wasastjerna(at)ferratum.com
cometis AG
Henryk Deter | Mariana Kuhn
T: +49 611 20 58 55-61
F: +49 611 20 58 55-66
M: kuhn(at)cometis.de
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Source: Ferratum Oyj via GlobeNewswire
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Datum: 10.04.2015 - 08:02 Uhr
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