The Financial Supervisory Authority approves Nordea’s acquisition of Danske Bank’s personal customer and private banking 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 Financial Supervisory Authority (FSA) in Norway has now announced its approval relating to the acquisition of the personal customer and private banking business.

The approval from the FSA covers the Norwegian personal customer and private banking business in Danske Bank. The FSA will evaluate the acquisition of the associated asset management portfolios at a later stage. In December 2023, the Norwegian Competition Authority announced its approval of the transaction.

The acquisition will strengthen Nordea’s market position in Norway among household customers.

- We are satisfied that the Norwegian Financial Supervisory Authority has approved the acquisition, following up on the clearance from the Danish Financial Supervisory Authority and the Norwegian Competition Authority. We are already working on preparing for welcoming and taking care of our new customers and new employees, says Randi Marjamaa, Country Senior Executive and Head of Personal Banking Norway.

Nordea will cooperate with Danske Bank to ensure a smooth onboarding for the customers, and expects to close the acquisition in late 2024.

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We are a universal bank with a 200-year history of supporting and growing the Nordic economies – enabling dreams and aspirations for a greater good. Every day, we work to support our customers’ financial development, delivering best-in-class omnichannel customer experiences and driving sustainable change. The Nordea share is listed on the Nasdaq Helsinki, Nasdaq Copenhagen and Nasdaq Stockholm exchanges. Read more about us at nordea.com.