Malta-listed Multitude Bank plc has increased its stake in Lea Bank AB to 20.9 per cent, further cementing its position as the bank’s largest shareholder and reinforcing its strategic foothold in the Nordic consumer finance market.

Antti Kumpulainen, CEO of Multitude AG and the bank, commented: “This strategic expansion not only strengthens our presence but also deepens the synergies between Multitude Bank and Lea Bank. Both institutions share a strong focus on digital efficiency, operational scalability, and customer-centric financial solutions.”

He continued: “We see significant opportunities for future collaboration that will create value for all stakeholders.”

The acquisition for approximately €15 million, fully funded from Multitude Bank’s liquidity, is expected to provide attractive financial returns in the form of dividends and associated income, while also opening doors for further strategic cooperation between the two institutions.

“The move aligns with Multitude Bank’s long-term growth strategy, which focuses on organic expansion, partnerships, and acquisitions,” said the bank in a company announcement.

This latest investment follows Multitude Bank’s initial 9.9 per cent stake acquisition in October 2024, when it purchased shares in what was then Lea Bank ASA. Since then, a merger between Lea Bank ASA and Lea Bank AB has eliminated the need for Norwegian regulatory approval.

Established in 2016, Lea Bank specialises in consumer loans and deposit products across multiple European markets. It provides consumer loans in Norway, Sweden, Finland, and Spain, while offering deposit products in Norway, Germany, Spain, Austria, and France.

With a workforce of 50 employees, Lea Bank serves over 70,000 customers and is poised for further European expansion. The bank is publicly listed on Nasdaq Stockholm under the symbol LEA.

“Multitude Bank’s latest acquisition underscores its commitment to strengthening its presence in the European financial landscape, leveraging synergies to drive innovation and growth in the digital banking sector.”

Multitude Bank plc is a subsidiary of Multitude AG. The organisation was formerly known as Ferratum, until a group-wide change to the Multitude brand in 2022.