Danske Bank Plc seeks to demerge its mortgage credit banking activities

23 March 2017

As announced on February 2, 2017, Danske Bank A/S is currently looking into the possibilities of merging its activities in Finland – Danske Bank Plc and Danske Bank A/S, Helsinki branch – into a single Finnish branch. As a part of this process, the Board of Directors of Danske Bank Plc has approved a demerger plan aiming for a partial demerger pursuant to the Finnish Companies Act. This implies that all assets, liabilities and reserves of Danske Bank Plc’s mortgage credit banking business will be transferred to an acquiring company wholly owned by Danske Bank A/S to be incorporated in conjunction with the demerger.

The reason for separating the mortgage credit banking business of Danske Bank Plc by way of a partial demerger is that the Finnish legislation requires a Finnish limited liability company as a holder of the mortgage credit banking license. The planned de-merger has no effects on Danske Bank Plc’s customers.

The demerger is subject to approval by the general meeting of Danske Bank Plc and the acquiring company obtaining necessary licenses to operate as a Finnish credit institution and mortgage credit bank. Application for such licenses will be filed with the Finnish Financial Supervision Authority.


Danske Bank Plc

Contact:
Anu Ilvonen, Head of MarCom in Danske Bank Plc, tel. +358 (0)10 546 8002.