Maritime & Merchant Bank opens its doors
Maritime & Merchant Bank ASA (M&M), a niche bank for the shipping and offshore sector, opened its doors for business in Oslo this week.
“We are very pleased to be able to start serving our customers,” said M&M CEO Halvor Sveen.
Mr Sveen extended his thanks to M&M’s stakeholders: “We are fortunate to have supportive owners and stakeholders, in both our founding fathers and new investors. They have made it possible to realize the plans for a new specialised bank’’.
“The sustained tight credit market for the maritime sector has left many companies owners seeking financing with few alternatives. We believe M&M can fill a need for a specialised bank with experience in shipping and offshore that is able to contribute to good solutions for our customers,” added Mr Sveen.
M&M will provide secured lending in the form of 1st priority terms loans.
Source: Maritime & Merchant Bank ASA