KBN needed to upgrade its core business system. After a rigorous selection process, it chose MX.3 from Murex
KBN needed to upgrade its core business system. After a rigorous selection process, it chose MX.3 from Murex
2 PagesCASE STUDY KOMMUNALBANKEN NORWAY Kommunalbanken Norway (KBN) is a funding agency for local government in Norway. Founded in 1926 and fully owned by the Kingdom of Norway, KBN is rated AAA by Standard & Poor’s and Aaa by Moody’s. KBN is the largest provider of credit to local authorities in the country, with a market share of around 50%. The agency has total assets of approximately €45 billion, of which around €30 billion is the lending portfolio. KBN funds all of its lending by bond issuance in the international capital markets. The agency also operates a liquidity portfolio, currently worth around €15 billion, which is also placed in the capital markets. Hence, although it is a government-owned agency lending only to local government, KBN is regulated like a normal financial insti
