Private Placement MyBank ASA
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December 2016 – Private Placement MyBank ASA
About the deal
In 2016 Bryan, Garnier & Co was retained as sole manager for MyBank’s first market issue of NOK 240 million.
The equity issue enabled the bank to meet its capital requirements under the conditional banking license obtained from the Norwegian Financial Supervisory Authority in July 2016, and to fund the bank’s operations in accordance with the business plan.
Deal team
Erik Furnes | Managing Director | Oslo | Investment Banking | efurnes@bryangarnier.com
Ole Magnus Broch Tenstad | Director | Oslo | Investment Banking | otenstad@bryangarnier.com
Kristian Melandsø | Vice President | Oslo | Investment Banking | kmelandso@bryangarnier.com
About MyBank
MyBank is a newly established Norwegian challenger bank offering consumer loans and deposit accounts to online and mobile consumers. MyBank distributes solely through external channels (loan agents), enabling an efficient and highly scalable business model. The founders have extensive experience from retail banking and from establishing and operating loan agents, such as Finansa/Zmarta Group and Norsk Boligfinans. MyBank will commence operations during Q1 2017.