Non-residents › The Merger Process of Sampo Pank and Danske Bank Has Started
The Merger Process of Sampo Pank and Danske Bank Has Started
20.12.2007
The merger process of AS Sampo Pank and Danske Bank A/S has started. The Merger Agreement was concluded on the 18th of December 2007 and the merger is planned to take place on the 1st of June. On the merger day AS Sampo Pank will be deleted from the Commercial Register and all the assets, liabilities and business activities of Sampo Pank will be transferred to Danske Bank and Sampo Pank will become the Estonian Branch of Danske Bank."Becoming a branch of the Danske Bank Group implies several benefits for the customers of Sampo Pank and the Danske Bank Group. For example, customer service across borders will become simpler and the guarantee and compensation limit for deposits and investments will be higher. Sampo Pank will be able to share all the Group’s strengths, including a strong credit rating – one of the strongest ratings in the Estonian market today, “assures Aivar Rehe, CEO of Sampo Pank. “Furthermore, the lending capacity of the bank locally will increase significantly.”
According to Aivar Rehe the bank will retain its current name Sampo Pank also after the merger. “The staff of the bank will only formally have a new employer, Danske Bank. Overall, becoming a branch is a very positive move for Sampo Pank,” adds Aivar Rehe.
Becoming a branch within the Danske Bank Group has happened to earlier acquisitions in Sweden, Poland, Norway and the Republic of Ireland. Sampo Pankki Oy (in Finland) and all Sampo banks in the Baltics, including our bank, will pass the same process.
Becoming a branch within the Danske Bank Group has happened to earlier acquisitions in Sweden, Poland, Norway and the Republic of Ireland. Sampo Pankki Oy (in Finland) and all Sampo banks in the Baltics, including our bank, will pass the same process.