Valuation Result

Final Brand Value

Norion Bank — Banks

Valuation date: 10/29/2026

Total Brand Value

SEK 552.7M

This result turns the selected legal, brand, benchmark and discount-rate assumptions into one reviewable brand value estimate.

Brand Strength

71/100

Royalty Rate

2.8%

Discount Rate

10.2%

Benchmark recommendation not unlocked for this result

Sensitivity snapshot

Quick decision check for discount rate, royalty rate and long-term growth.

Variable

Lower input

Current

Higher input

WACC (Discount Rate)

10.2%

-1.0%

SEK 616.9M

10.2%

SEK 552.7M

+1.0%

SEK 501.1M

Royalty Rate

2.8%

-0.5%

SEK 455.4M

2.8%

SEK 552.7M

+0.5%

SEK 650.0M

Terminal Growth

1.0%

-0.5%

SEK 532.8M

1.0%

SEK 552.7M

+0.5%

SEK 575.0M

Brand Strength changes can also be explored to show their potential effect on brand value. Contact info@brandvaluator.se if you want to explore this for strategy, planning and budgeting.

Revenue Base

SEK 2.1B

Legal Protection

74/100

Long-term Growth

1.0%

Recommendation basis

Brand-strength range • Pro

This reference case derives its royalty rate by applying the brand-strength score to a documented industry royalty ceiling.

This valuation uses benchmark support informed by external market references and curated internal calibration.

Use this section to confirm whether the result reflects unlocked benchmark guidance or a non-benchmark method.

Forecast profile

5 years explicit forecast

High growth: 1.0%

Base growth: 1.0%

Long-term growth: 1.0%

Value build

Value for planning period: SEK 196.1M

Terminal value: SEK 356.6M

How the valuation is built

Valuation Build

Royalty Relief DCF

Year	Revenue	Royalty	After Tax	PV
Y1	SEK 2,159,380,000	SEK 61,326,392	SEK 48,693,155	SEK 46,374,438
Y2	SEK 2,180,973,800	SEK 61,939,656	SEK 49,180,087	SEK 42,483,620
Y3	SEK 2,202,783,538	SEK 62,559,052	SEK 49,671,888	SEK 38,919,241
Y4	SEK 2,224,811,373	SEK 63,184,643	SEK 50,168,607	SEK 35,653,915
Y5	SEK 2,247,059,487	SEK 63,816,489	SEK 50,670,293	SEK 32,662,549
Explicit PV (Y1–Y5)				SEK 196,093,763
Terminal Value (undiscounted)				SEK 553,266,013
Terminal PV (discounted)				SEK 356,640,496
Total Brand Value				SEK 552,734,259

Supporting context

This section explains the evidence and judgment used to support the recommendation and the legal, brand and financial assumptions used in the valuation.

Reference case

Norion Bank

Prepared reference case

Indicative value of the Norion Bank name in corporate and real-estate financing. Walley and Collector, the loan book, deposits, banking licence, contracts and enterprise value are excluded.

Only the corporate and real-estate financing franchise is valued. The 4.00% name-only ceiling and 2.84% selected royalty are analyst assumptions, not an observed licence. Opening hypothetical rent is SEK 60.7m, 3.6% of FY2025 Corporate plus Real Estate segment profit before allocation of central costs; it is not a bank-wide or brand-attributable profit test. Walley and Collector are excluded. Legal and behavioral components are outside-in estimates, not a trademark opinion or customer survey. FY2026 growth and 10.00% market discount rate are modelling assumptions; reported Q3 2026 results were not incorporated.

Informed by numerous sources including company reporting, investor materials, analyst research, market data and selected benchmark references where relevant.

Key inputs

Reported = directly sourced • Estimated = selected judgment • Inferred = derived from broader evidence • Assumed = inclusion choice

Revenue base

SEK 2.138bn FY2025 Corporate and Real Estate operating incomereported

Planning growth

1.00% for 3 years, then 1.00%estimated

Long-term growth

1.00%estimated

Royalty rate selected

2.84%estimated

Discount rate

10.25%estimated

Brand Strength

71/100 (B)estimated

Legal analysis

74/100estimated

Company disclosures

These links lead to company-issued materials. BrandValuator cross-checks indicative estimates against multiple sources; the final assumptions and judgments are our own. Each input is labeled by evidence status above.

Norion Bank Group Annual Report 2025: segment income and profit Norion Bank Group: Norion Bank, Walley and Collector brand scopes

Legal Protection

trademark Status82

scope Of Rights76

risk Profile68

litigation69

contractual Rights74

goodwill Evidence77

regulatory Compliance70

Brand Strength

marketing Investment68

quality76

availability70

distinctive Brand Codes67

mental Availability68

consideration74

trust76

choice Share73

penetration71

price Elasticity64

revenue Premium66

margin Premium72

stability75