Divestments & Acquisitions 2008

Divestments

March

Nordea signs an agreement to sell its institutional global custody business to JPMorgan. As part of the agreement, Nordea appoint JPMorgan as global custodian for its internal institutional customers such as Nordea Funds and Nordea Life & Pensions. Nordea was the Nordic leader in institutional global custody with total assets of approximately EUR 200bn in scope for the transaction. Nordea continues to service retail and corporate global custody customers as well as further develop its leading Nordic sub-custody business for international customers.

June

Nordea sells its 24.82% holding in NCSD Holding AB (Nordic Central Securities Depository). The shares were acquired by Euroclear PLC.

Acquisitions

September

Nordea signs an agreement to acquire nine branches from "Bankaktieselskabet af 24. August 2008" (Roskilde Bank). Thereby Nordea further strengthened its position in the Zealand region in Denmark. Nordea takes over leases and employees in the nine branches, in total 152 employees.