Comments to the Norwegian Competition Authority’s decision concerning the proposed acquisition of Danske Bank’s personal customer business

Nordea entered into an agreement with Danske Bank to acquire its Norwegian personal customer and private banking business and associated asset management portfolios on 19 July 2023. The acquisition is subject to customary regulatory approvals. Today the Norwegian Competition Authority announced that it will take more time to review the proposed acquisition.

- We take note of the Norwegian Competition Authority’s decision to further review the case and will naturally provide additional information if needed, says Randi Marjamaa, Country Senior Executive and Head of Personal Banking Norway.

- Our view is that the Norwegian banking sector is characterised by keen competition, and that Nordea is a very good solution for the customers in light of Danske Bank’s decision to exit the Norwegian market for personal customers, Randi Marjamaa adds.

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