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Boutique shipping bank open for business in Oslo

Written by Nick Blenkey
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M&M CEO Halvor Steen is a former Senior Vice President, Offshore & Shipping at Pareto Bank ASA

DECEMBER 22, 2016 — Back in February 2014 we reported that a niche Norwegian merchant bank providing mortgage based lending to the maritime and offshore industries planned to start operations in April that year.

Well, it took a little longer than that, but now Maritime & Merchant ASA says it is officially open for business and that its long-term goal is to become a niche bank for the maritime industries, primarily within the shipping and offshore service sectors.

M&M will specialize in arranging and structuring mortgage lending for acquisition and refinancing purposes. It will service the global maritime markets from its main office in Oslo, Norway.

M&M’s main business idea is to create a competence-driven and low cost operation. It says that its professional banking services are based on well-grounded, deep industrial insight into international shipping

For further information, says its website, “kindly contact CEO Halvor Sveen, +47 91340098, hs@mmcredit.no”;

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