Swedbank to acquire Danske Bank’s retail banking business in Lithuania and Latvia

Swedbank strengthens its footprint in the Baltics by an agreement with Danske Bank to acquire its retail banking business in Lithuania and Latvia.

The acquisition affects around 120 000 private customers in Lithuania with approximately EUR 525m of loans and 7 000 private customers in Latvia with approximately EUR 116m of loans.

- I welcome all new customers and feel confident that they will appreciate Swedbank’s availability and wide range of digital services. We aim to make them as satisfied as the rest of our Baltic customers, says Priit Perens, Head of Baltic Banking, Swedbank.

The transaction is subject to approval from the regulatory authorities in both Lithuania and Latvia, and will become effective once approved in both countries. The acquisition is targeted for closing in the first quarter of 2016.

Swedbank AB (publ) is required to disclose this information pursuant to the Swedish Securities Markets Act (2007:528), the Swedish Financial Instruments Trading Act (1991:980) and/or the regulatory framework of Nasdaq Stockholm). This information was sent to be published on 23 September at 10.00 CET.

For further information please contact:
Gregori Karamouzis, Head of Investor Relations, Swedbank, +46 727 40 63 38 or gregori.karamouzis@swedbank.com
Claes Warrén, Press Officer, Swedbank, +46 703 75 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 296 branches in Sweden and 149 branches in the Baltic countries. The group is also present in other Nordic countries, the US and China.
As of 30 June 2015 the group had total assets of SEK 2 299 billion. Read more at www.swedbank.com

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