Maritime & Merchant has received regulatory approval to operate a private bank in Norway, underpinning the firm's strategy to become a niche financial institution dedicated to meeting the funding needs of owners active in the shipping and offshore industries worldwide. "M&M filed a banking licence application in November 2013 and we are very pleased with the rapid handling of the application, which now allows us to fully concentrate on the forthcoming capital issue, completion of the core bank system and putting the organisation together," said the company.
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