Swedbank´s takeover of Danske Bank retail banking services in Lithuania and Latvia approved

Based on the agreement from September 2015 between Swedbank and Danske Bank, which now has been approved by the Competition Authorities in both countries, Danske Bank retail banking services will be transferred to Swedbank.

The Service transfer will be carried out from June 3 to June 6 and affect around 86 000 private “Danske Bank” customers in Lithuania and 7 000 customers in Latvia. The size of the loan portfolio, subject to this transfer, is approximately 484 MEUR in Lithuania and 116 MEUR in Latvia.

­– We will devote great attention to ensure that the service transfer will be smooth and that the customers do not experience inconveniences. We will give the customers all needed personal attention and professional service to make the feel welcomed to their new bank, comments Dovilė Grigienė, Head of Swedbank Lithuania.

For further information, please contact:
Gregori Karamouzis, Head of Investor Relations, Swedbank, phone: +46 72-740 63 38
Claes Warrén, acting Press Manager, Swedbank, phone: +46 70-375 00 54

Swedbank promotes a sound and sustainable financial situation for the many people, households and companies. Our vision is to contribute to development “Beyond Financial Growth”. As a leading bank in the home markets of Sweden, Estonia, Latvia and Lithuania, Swedbank offers a wide range of financial services and products. Swedbank has over 7 million retail customers and around 600 000 corporate customers and organisations with 275 branches in Sweden and 144branches in the Baltic countries. The group is also present in other Nordic countries, the US and China.
As of 31 December 2015 the group had total assets of SEK 2 149 billion. Read more at www.swedbank.com

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