-Jyske Bank receives approval for Fjordbank Mors acquisition.
Global Banking News - 01 November 2011
Danish bank Jyske Bank A/S (JYSK.KO) has said that it has received approval from the Danish FSA and other relevant authorities for its planned acquisition of parts of Fjordbank Mors.
Jyske Bank took over the most essential parts of Fjordbank Mors on October 31, 2011, the bank said.
On September 30, Jyske Bank said it had signed an agreement to acquire the healthy parts of failed local lender Fjordbank Mors, which includes a portfolio of about 47,000 customers with total loans and advances of about DKK2.7bn (USD491m), and total deposits of around DKK3.7bn. The acquisition price was not disclosed.
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