Nordea entered into an agreement with Danske Bank to acquire its Norwegian personal customer and private banking business and associated asset management portfolios on 19 July 2023. Today the Norwegian Competition Authority has announced its approval of the acquisition.
The proposed acquisition will strengthen Nordea’s market position in Norway among household customers.
- We are pleased with the authority’s thorough review and clear conclusion. The proposed acquisition is an excellent strategic fit for Nordea and we look forward to taking good care of our new customers, says Randi Marjamaa, Country Senior Executive and Head of Personal Banking Norway.
- Nordea has a compelling product offering to support our new customers, leveraging our local presence to understand and meet their needs, says Randi Marjamaa.
Nordea will cooperate with Danske Bank to ensure a smooth onboarding for the customers.
- Our plan is to have our new customers onboarded at Nordea towards the end of 2024. In the meantime, nothing will change for the customers, and they will receive more information as the process moves ahead, says Randi Marjamaa.
Subject to regulatory approval, Nordea expects to close the acquisition in late 2024.
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