Monobank ASA: MONO-ME Strong loan growth - set for product expansion

• Continued solid loan growth of NOK 523 million for the quarter, net loan balance of NOK 2 876 million
• Net interest income of NOK 68.8 million, up from NOK 55.9 million in Q4 2017
• Net profit after tax reached NOK 10.1 million, up from NOK 7.4 million in Q4 2017
• Euro denominated deposits from European customers commenced being accepted in mid-February through Raisin, a European deposit marketplace
• A favourable forward flow agreement with Axactor was entered into on February 14th whereby loans past due 90 days or more will be irrevocably sold from June 2018
• Successful testing of Monobank's credit card has been completed with launch targeted for May

Bergen, 18 April 2018:

Monobank had a solid quarter with positive operational development and solid progress on growth initiatives. Growth in net loans continues at a high pace. In parallel, Monobank is expecting to see positive results from the upcoming broadening of its product portfolio. The new development of a credit card platform has already attracted significant interest from a wide range of stakeholders. In total, Monobank has added considerably to its platform during the first quarter of 2018.

"Monobank's operational and strategic growth has gained momentum through the first quarter. The loan portfolio develops favourably both in Norway and Finland. We plan for a continued healthy growth going forward. Strategically our bundled app and credit card has already attracted strong interest ahead of the launch over the next months. In total, Monobank has had its strongest quarter and we are aiming at continued solid growth and a ramp up in profitability", says Bent H. Gjendem, Chief Executive Officer at Monobank.

First quarter net loans and advances to customers increased by NOK 523 million to NOK 2 876 million excluding provision for loan losses and prepaid agency commissions. The credit quality has continued to develop in line with expectations. The launch of loan operations in Finland has been a success and continue to grow at a solid pace. Applications are coming in at levels similar to those registered in Norway. Through Monobank's arrangement with Raisin, the bank is now accepting Euro deposits directly from European customers on favourable terms. The set up will reduce overall funding cost.

Monobank presents the first quarter 2018 figures today 18 April.

• Oslo: 08:30 at Vika Atrium, Munkedamsveien 45, 0250 Oslo
• Bergen: 15:00 at Monobank offices, Telegrafen, Starvhusgaten 4, 5014 Bergen

The presentation will be held in Norwegian and transferred via webcast at www.monobank.no/ir.

For further information contact:

Bent H. Gjendem, Chief Executive Officer at Monobank, phone: +47 996 11 996

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