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-Jyske Bank acquires part of Denmark's Fjordbank Mors.

Global Banking News-October 3, 2011--Jyske Bank acquires part of Denmark's Fjordbank Mors(C)2011 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 03 October 2011

Jyske Bank A/S (JYSK.KO), Denmark's third-largest lender by assets, has said that it has agreed to acquire a major part of collapsed Danish lender, Fjordbank Mors.

Under the agreement, Jyske Bank will acquire a portfolio of about 47,000 customers, with total loans and advances of about DKK2.7bn, and total deposits of around DKK3.7bn. It will also acquire one of Fjordbank Mors' two corporate headquarters on the island of Mors, as well as 35 employees. The terms of the acquisition, which is subject to the approval of the Danish financial services authority and other customary conditions, have not been disclosed.

Fjordbank Mors, which is based on the fjord-island of Mors in north-western Denmark, was taken over by the Danish state's liquidation company, Finansiel Stabilitet, on June 24, after it failed to expand its capital by an additional DKK700m in fresh capital, as advised by Danish financial markets regulator.

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Publication:Global Banking News (GBN)
Geographic Code:4EUDE
Date:Oct 3, 2011
Words:199
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