Multitude Bank secures €15m majority shareholding in Norwegian digital challenger Lea Bank

Multitude Bank, a wholesale bank based in Malta, has acquired a 9.9% stake in Lea Bank, a listed Norwegian digital challenger, thereby becoming a majority shareholder.
This initial purchase will be followed by an additional 8.7% stake, with a separate agreement already signed, pending approval from the Norwegian Financial Authority and the Swedish Financial Authority.
The total cost of the transaction is approximately €15 million, financed entirely through Multitude’s liquidity. Upon completion, this will result in an 18.6% ownership stake.
Founded in 2016, Lea Bank specializes in consumer loans and deposit products, serving 70,000 customers across Europe.
Lea Bank secured a banking license in Sweden in June and plans to list on Nasdaq Stockholm next year, alongside transitioning its headquarters, while currently being listed on the Oslo Stock Exchange.
Multitude Bank anticipates that its majority shareholding in Lea Bank will yield attractive financial returns in terms of dividend yield and income.
Multitude operates as the wholesale banking subsidiary of Finland’s Multitude PLC, which also includes Ferratum and CapitalBox for consumer and SME banking services, respectively.