Divestments & Acquisitions

Acquisitions

August

Nordea signed an agreement to acquire the Danish Fionia Bank from Finansiel Stabilitet A/S. The Danish authorities approved the transaction in November 2009. Nordea takes over leases and employees in the 29 branches, in total 400 employees. In one go Nordea doubles its market share in the Funen region. The credit quality in the acquired bank is solid, since the 'bad bank' is separated out and is kept by Finansiel Stabilitet A/S. Impaired loans in the acquired portfolios are in line with the ratio in Nordea's own Danish portfolio.