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Maritime Bank News

26 Feb 2018

Nigeria to Automate Shipping Processes

The Federal Government of Nigeria is set to automate all shipping related administrative processes in order to reduce subjectivity and corruption, thereby promoting transparency in the Nigerian maritime industry. This comes as a result of Nigeria's quest to ensure the growth and development of the maritime sector and in line with the Presidential order on the Ease of Doing Business in Nigeria. According to the eighteen point communiqué, Stakeholders agreed that in order to realize the desired accelerated growth of the Nigerian maritime sector, the Ministry and its Agencies should explore alternate financing windows such as the establishment of Maritime Bank to address the financing gap created by the unsuitability of lending rates of Nigerian banks for the shipping business…

21 Dec 2016

New Maritime Bank Opens Its Doors

A new niche bank for the shipping and offshore sector opened its doors for business on December 20, 2016.   Serving the global maritime markets from its main office in Oslo, Maritime & Merchant Bank ASA (M&M) will provide secured lending in the form of first priority terms loans.   “The sustained tight credit market for the maritime sector has left many companies owners seeking financing with few alternatives,” said M&M CEO, Halvor Sveen. “We believe M&M can fill a need for a specialized bank with experience in shipping and offshore that is able to contribute to good solutions for our customers.”

04 Oct 2013

New Maritime Bank Targets 2Q 2014 Operations

An experienced team of shipping, offshore and finance professionals are pleased to announce the intention to establish Maritime & Merchant Bank (M&M) a niche financial institution dedicated to meeting the funding needs of owners active in the shipping and offshore industries, worldwide. The newly formed project company, Maritime & Merchant AS (M&M AS), will file a banking license application on behalf of M&M during the autumn of 2013. The main sponsoring shareholders of M&M AS are currently Arne Blystad…

04 Oct 2013

New Maritime Bank Plans to Bridge Funding Gap

The new bank principals: Photo credit M&M Bank

A team of Norway-based shipping, offshore and finance professionals intend to establish Maritime & Merchant Bank (“M&M’’) a niche financial institution dedicated to meeting the funding needs of owners active in the shipping and offshore industries, worldwide. The newly formed project company, Maritime & Merchant AS (M&M AS), will file a banking license application on behalf of M&M during the autumn of 2013. The main sponsoring shareholders of M&M AS are currently Arne Blystad…