back Back

Nordea buys Danske Bank’s personal customer business in Norway

By Gloria Methri

July 20, 2023

  • Asset Management
  • Danske Bank
  • FinTech
Share

Nordea, Danske Bank, Personal Customer Business, Private Banking, Personal Banking, Asset Management, FinTech, Nordics, NorwayNordea has entered an agreement with Danske Bank to acquire its Norwegian personal customer and private banking business and associated asset management portfolios.

The acquisition will help Nordea strengthen its market position in Norway among household customers. The transaction is expected to increase the company’s mortgage market share in the country to around 16% from the current 11%.

Frank Vang-Jensen, President and Group CEO of Nordea said, “We are very pleased to announce this acquisition, which is an important step in executing our Nordic strategy, and which expands our presence in Norway in a complementary manner. It will add significant scale to our Personal Banking business in Norway and offers value-creation opportunities through clear revenue and cost synergies. Most importantly, this will serve our new customers, who will benefit from our broad financial offering, expertise, and leading digital services.”

The acquired business will be integrated into Nordea and operated under the same brand. Until closing, Danske will continue to maintain the customer relationships as previously. No action is required from customers, and they will be kept informed of the progress of the transaction.

“We look forward to welcoming our new customers and colleagues to Nordea,” said Randi Marjamaa, Head of Nordea Personal Banking in Norway. “Our new customers will have access to easy-to-use digital offerings, a high service level, proactive and personal advice from our skilled local advisers and a product suite that supports the breadth of their needs. Nordea is a great place to work with rich career and development opportunities, and we look forward to bringing on board our new colleagues in Trondheim and across Norway.”

In recent years, the company has materially grown its operations in the Nordic markets, including the acquisition of Norway-based Gjensidige Bank and SG Finans, and Topdanmark Life. Nordea aims to continue to take the opportunities to drive profitable growth both organically and through selective acquisitions.

Previous Article

July 20, 2023

NCC Bank Ltd. & Thales team to secure digital transactions in Bangladesh

Read More
Next Article

July 20, 2023

UNIPaaS & GoCardless team to offer bank payments to businesses

Read More






IBSi Daily News Analysis

regulations,

June 11, 2024

Asset Management

Payments industry urges delay of APP fraud rules amid leadership change at Payment Systems Regulator

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

HSBC acquires Citi’s retail wealth management portfolio in mainland China

Read More

June 10, 2024

5 WealthTech platforms simplifying credit score tracking in India

Read More

June 10, 2024

SiFi, a Saudi spend management FinTech, raises $10m funding

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023