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Nordea Gets Full Approvals For Danske Norway Purchase

FINANCIALS

Nordea (NDA SS) gets full regulatory approval to buy Danske's (DANSKE DC) Norwegian businesses. Simplification and sale proceeds likely a minor credit positive for Danske.


  • Deal was originally announced in Jul-23 and covered 285,000 customers across private and personal banking businesses. Danske had indicated it wanted to exit the market a month earlier.
  • In Nov-23 the Norwegian competition regulator (acc. to Reuters) indicated that this deal could “hurt customers” as both were already large businesses in Norway thereby reducing competition.
  • That regulator then cleared the deal in Dec-23, as did the Danish financial regulator. Today we’ve seen the Norwegian financial regulator also clear this transaction.
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