Nordea Bank AB (publ)
Nordea Bank AB (publ): Agreement
COPENHAGEN, DENMARK--(Marketwired - Oct 2, 2017) - Nordea Bank AB (publ)
Nordea and DNB have completed the combination of their Baltic operations
On 25 August 2016 Nordea and DNB entered into an agreement to combine their operations in Estonia, Latvia and Lithuania in order to create a leading independent main financial services provider in the Baltics. The completion was conditional upon receiving regulatory approvals and conditions. After receiving all approvals from the respective regulatory bodies, the transaction closed today.
Luminor will be the third largest financial services provider in the Baltic banking market with a market share of 16 per cent in deposits and 23 per cent in lending. Luminor will comprise Nordea's approximately 350,000 and DNB's 930,000 customers across the three markets. The operations will have approximately 3,000 employees and approximately EUR 15bn in assets. Total gross lending of the Luminor portfolio will amount to approximately EUR 12bn including both consumer and corporate lending and deposits will total EUR 9bn. Luminor will have a common equity tier 1 capital ratio of 17 per cent and a common equity tier 1 capital of EUR 1.6bn.
Nordea will hold 56 per cent of the economic rights and 50 per cent of the voting rights of the new company. In Nordea's results, Luminor will be accounted for using the equity method from Q4 2017.
For further information:
Claes Eliasson, Acting Head of Group External Communications, +46 72 141 67 12
Information om Marketwired
Følg pressemeddelelser fra Marketwired
Skrive dig op her og du vil løbende modtage pressemeddelelser på mail. Indtast din mail, klik på abonner og følg instruktionerne i den udsendte mail.
Flere pressemeddelelser fra Marketwired
Bombardier Inc.21.11.2017 01:16 | pressemeddelelse
Bombardier Announces Pricing of its New Issuance of Senior Notes due 2024
Algeco Scotsman20.11.2017 18:41 | pressemeddelelse
Statement Regarding Withdrawal of Complaint Filed on Behalf of Senior Unsecured Noteholders
Bombardier Inc.20.11.2017 16:02 | pressemeddelelse
Bombardier Announces a Cash Tender Offer for Any and All of its 4.75% Senior Notes due 2019
Bombardier Inc.20.11.2017 15:06 | pressemeddelelse
Bombardier Announces Launch of its New Issuance of Senior Notes due 2024
Algeco Scotsman16.11.2017 21:11 | pressemeddelelse
Statement Regarding Complaint Filed on Behalf of Senior Unsecured Noteholders
Cisco15.11.2017 22:06 | pressemeddelelse
Cisco Reports First Quarter Earnings
I vores nyhedsrum kan du læse alle vores pressemeddelelser, tilgå materiale i form af billeder og dokumenter, og finde vores kontaktoplysninger.Besøg vores nyhedsrum