Sydbank, Arbejdernes Landsbank and Vestjysk Bank have concluded an agreement to merge. The merged bank will continue under the name AL Sydbank with Sydbank as the continuing bank.
AL Sydbank will be among Denmark’s five largest banks with bank loans of around DKK 137bn, deposits of around DKK 207bn and total credit intermediation of around DKK 375bn.
The merger creates one bank with shared values, a strong culture and a common purpose to be one of Denmark’s most well-run, efficient and profitable banks.
The completion of the merger is subject to approval by the shareholders of all three banks, the Danish Financial Supervisory Authority as well as the Danish Competition and Consumer Authority.
Accura advised Vestjysk Bank in connection with the transaction.
Photo: Sydbank.dk