Nykredit Bank and FIH Erhvervsbank have concluded an agreement for Nykredit Bank's takeover of 24 large corporate accounts with a total credit exposure of approximately DKK 4 billion comprising loan facilities of approximately DKK 1.9 billion, guarantees and credit commitments of approximately DKK 1.6 billion and financial instruments of DKK 0.5 billion. The transaction means an expansion of Nykredit Bank's business activities with a number of large corporate clients.
"The portfolio consists in selected corporate clients in which we see considerable business potential. The acquisition enhances Nykredit Bank's market position and fits our strategy of strengthening our corporate banking activities," says Kim Duus, Group Managing Director of Nykredit.
He welcomes the new clients to Nykredit. Their current facilities will be continued, and they will naturally gain access to all of the Nykredit Group's other financial products.
The takeover of the portfolio will have a favourable earnings impact in 2014 but not to an extent that will lead to changes to our full-year earnings guidance.
Nykredit Bank will continue to have a large surplus of deposits after the portfolio has been taken over, and the transaction will not entail any additional funding need.
Nykredit Bank's acquisition of the portfolio is subject to the approval of the Danish authorities.
For further information, please contact Nykredit Corporate Communications, tel +45 44 55 14 70.
