We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Name | Symbol | Market | Type |
---|---|---|---|
Danske Bank AVS (PK) | USOTC:DNKEY | OTCMarkets | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.315 | -2.12% | 14.525 | 14.44 | 14.61 | 14.673 | 14.52 | 14.52 | 11,131 | 16:55:21 |
By Dominic Chopping
Nordea Bank said Wednesday it has agreed to buy Danske Bank's Norwegian personal customer and private banking business and associated asset management portfolios.
Based on figures from the end of 2022, Nordea said the deal will see around 285,000 customers, lending volumes of 18 billion euros ($20.21 billion), deposit volumes of EUR4 billion and around EUR2 billion of assets under management transferred to the Helsinki-based bank.
The precise size of the portfolio and the consideration paid will be determined at closing, but Nordea expects the acquisition to improve its cost-to-income ratio and return on capital at risk of its Norway personal banking business, decrease its common equity Tier 1 ratio by 40-50 basis points and positively impact group earnings per share and return on equity.
"The acquisition is an ideal strategic fit for Nordea and will strengthen Nordea's market position in Norway among household customers," Nordea said.
"The acquisition of Danske's personal customer and private banking business in Norway fits well into Nordea's strategy to grow in the Nordic region organically and also through bolt-on acquisitions."
The deal is expected to increase Nordea's mortgage market share in Norway to around 16% from 11% currently.
Closing is seen in late 2024.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
July 19, 2023 03:37 ET (07:37 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
1 Year Danske Bank AVS (PK) Chart |
1 Month Danske Bank AVS (PK) Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions