Nykredit Realkredit to acquire the remaining 80.6% stake in Spar Nord Bank for $2.8bn.

Nykredit Realkredit, a mortgage credit institution, offered to acquire the remaining 80.6% stake in Spar Nord Bank, a mortgage lender, for $2.8bn. “Spar Nord Bank and Nykredit are a strong match. Each of us has values and core competencies that, combined, will increase our impact in the market. Spar Nord Bank has a long tradition as a locally anchored relationship bank with decentralised decision-making powers and special strengths in the personal customer and the small and medium-sized business customer segments. Nykredit Bank is currently one of the largest lenders to large corporate customers, agriculture and the real estate sector, as well as one the largest wealth management advisers. In addition, Nykredit takes a special approach to sustainability, fixed prices and customer-based value offerings for Danish homeowners. By joining forces, we can show even more customers that there is a customer-owned alternative in the financial sector and stand even stronger in the competition with the largest listed banks," Merete Eldrup, Nykredit Chairman.