The approval from the FSA covers the Norwegian personal customer and private banking business in Danske Bank. The FSA will evaluate the acquisition of the associated asset management portfolios at a later stage. In December 2023, the Norwegian Competition Authority announced its approval of the transaction.
The acquisition will strengthen Nordea’s market position in Norway among household customers.
- We are satisfied that the Norwegian Financial Supervisory Authority has approved the acquisition, following up on the clearance from the Danish Financial Supervisory Authority and the Norwegian Competition Authority. We are already working on preparing for welcoming and taking care of our new customers and new employees, says Randi Marjamaa, Country Senior Executive and Head of Personal Banking Norway.
Nordea will cooperate with Danske Bank to ensure a smooth onboarding for the customers, and expects to close the acquisition in late 2024.
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