The sale of Bluestep Bank’s personal loan portfolio to Svea Ekonomi
Bluestep Bank divests its personal loan portfolio to Svea Ekonomi
Bluestep Bank AB has entered into an agreement with Svea Ekonomi to divest its portfolio of unsecured personal loans
In the beginning of February 2020 Bluestep Bank decided to stop offering personal loans in order to entirely focus the strategic direction on mortgage products. The personal loan portfolio has since then been in run-off. Currently the personal loans represent 5% of Bluestep’s loan portfolio. The remaining 95% is mortgages.
Discussions about potential divestment were initiated during the fall and interest for the portfolio has been strong.
“It feels reassuring that the personal loan portfolio is now being taken over by Svea Ekonomi, who has solid experience and offers financing solutions throughout Europe to both private individuals as well as to companies. They will continue to take care of our customers in the best possible way. At the same time, we see this as an important step for Bluestep when we clarify our offer as a Nordic mortgage bank,” says Bluestep Bank’s CEO Björn Lander.
The sale means that the existing personal loans will continue as before, and the customers do not need to act in any way. In the future however, the loans will be managed by Svea Ekonomi.
As per the 30th June 2020 the divested portfolio had an outstanding loan amount of SEK 863 million.
Svea is a financial company group, founded 1981. With 2,000 employees across Europe – they create administrative and financial solutions for both individuals as well as for small and large companies. Read more at svea.com.
Link to press release: