INSTABANK ASA

 (3.9; 7 ratings)
3.9 7

Business Focus

direct retail banking

Instabank is a new digital bank offering savings and loans with flexible repayment individually adjusted for its customers. Instabank offers fast, intuitive and secure sales financing and payment solutions, which make sales easier, both for businesses and their customers. Instabank also provides insurance products.

Bank Category

Commercial banks

Services

retail banking

Clients

natural persons

Area Served

NONorway
DEGermany

Products

current accounts
payment cards
time deposit accounts
consumer loans
car loans

Account Opening

Becoming a client of INSTABANK ASA can be done in a few steps:

1.
Completely online
2.
Account is ready within a few minutes

Due to regulatory requirements INSTABANK ASA performs KYC/AML checks when establishing business relationships with a new client. While onboarding a private individual INSTABANK ASA will ask him/her to provide the following documents: passport; proof of address. For corporate clients INSTABANK ASA will ask to provide corporate documentation as well as information about controlling persons. INSTABANK ASA may request additional documentation or information depending on the case. Account opening procedure is usually completed within a few minutes.

Ways to Bank

INSTABANK ASA delivers its products and services via direct (online) channels only, namely:
online banking
mobile app

Financials

Total Assets of INSTABANK ASA
Operating_income of INSTABANK ASA
Market Share of INSTABANK ASA
Total Assets (2019)
3,540.82 mln NOK  (+3.67%)
Operating Income (2019)
54.97 mln NOK  (+61.71%)

INSTABANK ASA is the 84th largest bank in Norway in terms of total assets. In 2019 its total assets were 3 540,82 mln NOK, providing the bank with the market share of 0.09%. INSTABANK ASA is the 18th largest commercial bank in Norway (out of 24 commercial banks) having market share of 0.14% amongst the banks of this category. In 2019 the bank's operating income was 54,97 mln NOK.

Deposit Guarantee

Guarantee Fund
Norwegian Banks' Guarantee Fund (NBGF)Norwegian Banks' Guarantee Fund (NBGF)
Protected Amount
up to 2,000,000 NOK
Eligible Depositors
natural persons (Norwegian and foreign)
legal entities (Norwegian and foreign)
Covered Accounts
current accounts
savings accounts
time deposit accounts

INSTABANK ASA participates in the deposit guarantee scheme of Norway. This deposit guarantee scheme applies to current accounts, savings accounts, time deposit accounts made by natural persons (Norwegian and foreign), legal entities (Norwegian and foreign) and covers up to up to 2,000,000 NOK per bank per depositor. INSTABANK ASA is a member of Norwegian Banks' Guarantee Fund (NBGF) and makes its contributions into it.

Contacts

Drammensveien 177, 0277, OSLO, Norway

INSTABANK ASA is headquartered in OSLO.

Social Networks

INSTABANK ASA has profiles at the following social networks:

Bank Identifiers

LEI
549300GGE58VFJE5KJ70
Company Number
816914582

Bank Supervision

Supervised By
Financial Supervisory Authority of Norway
Reference Number
816 914 582

INSTABANK ASA is authorized and supervised by the Financial Supervisory Authority of Norway (reference number 816 914 582).

Bank History

Start Date
16 September 2016

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