Nykredit seeks to acquire Spar Nord

Nykredit has made a unanimous buyout offer for Spar Nord, backed by Spar Nord’s board and foundation, aiming to create Denmark’s third-largest bank. The deal values Spar Nord at 24.7 billion DKK and awaits Financial Supervisory Authority approval. Nykredit’s chair Merete Eldrup sees the merge as combining strengths, benefiting private customers, and small to medium-sized businesses. The future bank will operate under one institution while maintaining separate branding. No branch consolidations are planned for 2025. The anticipated completion is in the first half of the same year.