Question 1

What is Financiering?

Accepted Answer

Financiering is one of Norway's oldest financing companies, established in 1930 as a specialized lender focusing on consumer asset financing. The company provides financing solutions for vehicles and watercraft, including new and used cars, motorcycles, mopeds, boats, and scooters. Financiering operates as a credit institution with a banking license granted in 2019, allowing it to accept deposits and expand its financial services.

The company is a wholly-owned subsidiary of Sparebanken Øst, one of Norway's largest independent savings banks with 29 offices across Eastern Norway. Financiering employs approximately 17 people.

Question 2

When was Financiering founded?

Accepted Answer

Financiering was originally established in 1930 as a financing company. For nearly 90 years, it operated primarily as a consumer finance lender specializing in vehicle and watercraft financing.

On April 28, 2019, Financiering received authorization as a credit institution from Norwegian financial authorities, allowing the company to operate as a licensed bank. This transition enabled Financiering to accept deposits and expand beyond its traditional lending focus.

Question 3

Where is Financiering headquartered?

Accepted Answer

Financiering is headquartered at Roald Amundsens gate 6 in Oslo, Norway, near the City Hall. This central Oslo location provides convenient access for the company's operations and staff.

Question 4

Where does Financiering operate?

Accepted Answer

Financiering operates throughout Norway, serving customers across the country through its fully digital platform. As a subsidiary of Sparebanken Øst, which has 29 offices in Eastern Norway, Financiering benefits from its parent company's regional presence while maintaining its own nationwide digital operations.

The company focuses exclusively on the Norwegian market for consumer financing of vehicles and watercraft.

Question 5

What services does Financiering offer?

Accepted Answer

Financiering specializes in secured lending for consumer assets. The company offers financing solutions for new and used cars, motorcycles, mopeds, boats, and scooters, with the purchased object serving as security for the loan. For boats over 7 meters in length, customers can obtain loans secured by a ship mortgage (ship deposit).

The company provides a fully digital application process that allows customers to apply for loans online. Financing options include 100% financing of the purchase price and pre-approved loan certificates. Interest rates start from 6.25%, which the company positions as competitive within the Norwegian market.

Additional services include payment insurance to protect borrowers in case of financial difficulties. Financiering participates in Norway's deposit guarantee scheme (Banks' Guarantee Fund), covering deposits up to 2,000,000 NOK per depositor.

Question 6

What makes Financiering unique?

Accepted Answer

Financiering distinguishes itself through its specialized focus and longevity in the Norwegian consumer financing market. With origins dating back to 1930, the company has nearly a century of experience in vehicle and watercraft financing, making it one of the oldest financing companies in Norway.

The company's ownership by Sparebanken Øst, a major independent savings bank, provides stability and access to capital while maintaining a focus on personal service and competent financial advice. Financiering's transition from a traditional finance company to a licensed credit institution in 2019 represents a strategic evolution, enabling the company to offer deposit products alongside its core lending business.

The fully digital application process streamlines customer experience while the company maintains its specialized expertise in asset-backed lending for vehicles and boats.

Question 7

What type of financial institution is Financiering?

Accepted Answer

Financiering is a credit institution (kredittinstitusjon) licensed and regulated under Norwegian banking law. In Norway, credit institutions are authorized to accept deposits from the public and provide credit, distinguishing them from finance companies that can only lend.

Financiering received its credit institution license in 2019, transitioning from its historical status as a finance company. As a licensed credit institution, Financiering is supervised by the Norwegian Financial Supervisory Authority (Finanstilsynet) and participates in the Norwegian Banks' Guarantee Fund (Bankenes sikringsfond), which protects deposits up to 2,000,000 NOK per depositor.

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