The Bank of Åland has signed a declaration of intent to form a new Swedish mortgage company

Bank of Åland Plc 
Stock Exchange Release
June 27, 2019, 3.35 p.m.

The Bank of Åland has signed a declaration of intent to form a new Swedish mortgage company
On June 27, the Bank of Åland (Ålandsbanken) signed a declaration of intent to form a new Swedish mortgage company. The declaration of intent was also signed by a number of other parties and the aim is to conclude binding agreements early in the autumn.

The Bank of Åland has engaged in mortgage operations covering Swedish home loans since 2012. It has carried out these operations from its own balance sheet, and if binding agreements are entered into, they will be transferred to the new mortgage company. The Bank of Åland’s subsidiary Crosskey Banking Solutions has been chosen as the IT systems supplier and integrator for the mortgage company.

The other participating parties will be announced when agreements are finally concluded.

For further information, please contact:
Peter Wiklöf, Managing Director and Chief Executive, Bank of Åland Plc, tel. +358 40 512 7505