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Danish Sydbank plans local acquisitions.

Global Banking News-19 February 2010-Danish Sydbank plans local acquisitions(C)2010 ENPublishing -

Global Banking News - 19 February 2010(c)2005 - Electronic News Publishing -

Danish bank Sydbank (CPH: SYDB) is looking to acquire a few local sector players in the next two years, Dow Jones has reported citing a separate report by Danish daily Dagbladet Borsen.

The bank's CEO Carsten Andersen reportedly said that Sydbank was mainly interested to expand on the island of Zealand (Sjaelland), as it was adequately strong on the Jutland (Jylland) peninsula, and also on the island of Funen (Fyn).

Sydbank was also looking to further strengthen positions in this part of Denmark via acquisitions, as it was where the wealthy citizens live, Andersen said, adding that the Danish bank will be targeting if any Zealand-based bank is put up for sale.

With Andersen as CEO, Sydbank has made a total 13 acquisitions, the most recent being the troubled Banktrelleborg in Slagelse, Zealand.

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Publication:Global Banking News (GBN)
Date:Feb 19, 2010
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