Denmark’s Roskilde Bank, bailed out by the central bank last month, has been sold to Nordic bank Nordea and two regional Danish lenders, Arbejdernes Landsbank and Spar Nord Bank, it said yesterday.
Roskilde Bank lost some 5.1 billion kroner (US$979 million) in the first half of the year, after making significantly bigger writedowns than expected on its real estate loans.
It also made provisions of 3.6 billion kroner.
On Aug. 24, the central bank announced that it and a group of Scandinavian financial institutions had bought all of Roskilde’s assets and taken over all debt and other liabilities, which it placed in a separate entity.
Nordea will take over nine Roskilde branches, and some 48,000 customers, for 57 million euros, the target company said in a statement to the stock exchange.
Spar Nord Bank will meanwhile take over seven branches, and Arbejdernes Landsbank will take over five.
The three lenders will guarantee Roskilde loans worth 10 billion kroner, of which Nordea’s share will be 5.5 billion, and five billion kroner worth of deposits.
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