Today Spar Nord’s Swedish subsidiary, SN Finans Nord AB, concluded an agreement
with Wasa Kredit, a subsidiary of Länsförsäkringar AB. According to the
agreement, Wasa Kredit will take over five employees and financing contracts
for a total of approx. SEK 800 million.
The takeover, which comprises about 40% of the total portfolio of SN Finans
Nord AB, will be effected at par and will be effective as from 1 June 2012.
The agreement will not impact Spar Nord’s forecast for the Group’s core
earnings before impairment in 2012, as SN Finans Nord AB has been categorized
as a discontinuing activity since September 2011.
The divestment contributes to additionally strengthening Spar Nord's already
solid position in terms of capital and cash resources.
For comments on this Company Announcement, please contact Lasse Nyby (+45) 9634
4011 or Ole Madsen at (+45) 9634 4010
Senior Vice President, Corporate Communication
Direct tel.: +45 9634 4010