FöreningsSparbanken divests Kundinkasso to Lindorff

FöreningsSparbanken has entered into an agreement with Lindorff Sverige AB concerning the sale of the shares in Kundinkasso AB KIAB and a future cooperation in the collections area. During the cooperation period of five years, Lindorff will handle debt collections and debt rescheduling. Furthermore, FöreningsSparbanken will continuously sell claims with written-off established loan losses to Lindorff. ”KIAB is a well-managed company and we believe that an industrial buyer can positively develop its business further. Lindorff is the Nordic leader in debt collection for the banking sector and we look forward to our future cooperation”, says Jan Lidén, President and CEO of FöreningsSparbanken. The sale of the shares in Kundinkasso will result in an estimated capital gain of above SEK 1.4 bn for the FöreningsSparbanken Group during 2005. The sale requires the Competition Authority’s approval to the transaction. No changes to the customers’ contacts with the bank or to existing payment plans will follow from the sale. Kundinkasso’s CEO Thomas Holmgren and present management will remain with the company after the sale. For further information: Jan Lidén, President and CEO, FöreningsSparbanken, phone: +46-8-585 922 27 Kjell Hedman, Head of Customer Offerings and Products, FöreningsSparbanken, phone: +46-708-53 81 88 Henrik Kolga, Head of Communications, FöreningsSparbanken, phone: +46-708-11 13 15