Morrow bank presentation by Hvaler Invest

We were invited by Investorweb to a presentation of our analysis on Morrow Bank. See the attached link to the recording of this presentation that took place yesterday, Monday, April 7, 2025.

In this presentation, we presented the main findings from the analysis and discussed why we believe Morrow Bank is an attractive investment in 2025 and beyond.

🔍 Topics: • The turnaround story and growth strategy • Why a Swedish banking license could double ROE • Two scenarios – dividend celebration or portfolio acquisition? • Why the current pricing provides attractive risk/reward

📈 The analysis indicates a price target of NOK 17.90, with significant upside from the current level.

Best regards,

 David and Sverre

Hvaler Invest AS
Lillestrøm, Norway
08.04.25

Disclaimer:
Hvaler Invest is a significant shareholder so you cannot trust us (or perhaps you can?)