Arbejdernes Landsbank completed the acquisition of PenSam Bank from PenSam Group.

Arbejdernes Landsbank, a Danish full-service retail bank, completed the acquisition of PenSam Bank, a Danish online bank, from PenSam Group, a labor market pension fund for Danish public sector and private company employees. Financial terms were not disclosed. "Over the years, PenSam Bank has offered good and tailored banking solutions for PenSam's members. I am very pleased that it is Arbejdernes Landsbank that is now taking over PenSam Bank. We share a natural commonality of values, and the acquisition opens up new opportunities for our customers in a bank that also understands them and their needs," Torsten Fels, PenSam Group CEO.