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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

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