Sydbank A/S (“Sydbank”) has entered into an agreement to acquire 100 percent of the shares in Coop Bank A/S (“Coop Bank”) from Coop amba (“Coop”) for an estimated DKK 345 million. As part of the agreement, Coop Bank will continue its exclusive strategic partnership with Coop Danmark A/S (“Coop Danmark”) to offer continued membership benefits as well as financial services to Coop members.
About Coop Bank
Coop Bank was established by Coop in 2013 with the ambition of offering day-to-day banking services to the +2 million members of Coop Danmark, thereby enhancing Coop customer loyalty by increasing overall customer interactions with the Coop group. Today, Coop Bank has an established presence in the Danish retail banking market with approx. 88,000 customers, total lending activities of DKK 1.3 billion and DKK 3.1 billion in total deposits.
About Sydbank
Sydbank is one of Denmark’s largest banks serving both individual customers and corporates through a wide range of financial products and services including loans, mortgages, savings accounts, insurance and wealth management. Sydbank has +2,100 employees, total lending activities of DKK 78 billion and DKK 109 billion in total deposits.