OREANDA-NEWS. Based on the agreement between Swedbank and Danske Bank, which was now approved by all required supervisory institutions, Danske Bank retail banking services will be transferred to Swedbank on June 4. Personal accounts, mortgages and consumer loans, deposits and securities will be transferred to Swedbank automatically on the mentioned date. For fluent transfer customers of Danske Bank are recommended to address Swedbank timely for payment cards and access to internet bank.

“I am thankful to our customers for their trust to Danske Bank during these years and we will make every effort, to ensure that transition from one bank to another is as unnoticeable as possible,” – says Raivis Kak?nis, Head of Danske Bank Latvia.

Customers will not need to terminate current service agreements with Danske Bank. After the transfer they will be able to use services in Swedbank and there will be no major changes in terms and conditions – interest rates of loans and deposits will not change.

“We are pleased to welcome our new customers and have the infrastructure, resources and wide range of modern financial solutions to guarantee high quality banking services.” – comments Head of Swedbank Latvia M?ris Man?inskis.

All Danske Bank customers, whose agreements will be transferred to Swedbank, will soon receive personal letters and internet bank messages with full information about the migration process and practical guidelines. In case customers need any assistance, they can address all questions to Danske Bank and Swedbank.

Danske Bank payment cards and internet bank access of these customers will stop working at the afternoon on June 3. In order to have full access to accounts without any interruptions, Danske Bank customers are recommended to obtain Swedbank payment card and internet bank access before this date. On June 5 at 8 am customers will be able to use all transferred services in Swedbank.

Danske Bank customers will also be subject to individual offers that will allow them to use Swedbank services in favorable conditions for a try out period. Service transfer will be fully free of charge to the customers.

Both parties have committed to ensure smooth transfer of services and all needed assistance to the customers who are subject to this transfer.

Service transfer will affect around 5500 customers in Latvia. The size of the loan portfolio, subject to this transfer, is approximately 108 MEUR.

ABOUT Danske Bank

Danske Bank is the largest bank in Denmark and one of the Northern Europe’s leading financial institutions. Danske Bank Latvia focuses on serving corporate customers and private individuals related to the business customers.

ABOUT Swedbank

Swedbank Group has the leading position in the home markets Sweden, Estonia, Latvia and Lithuania. We provide households and businesses with everything from basic transaction services to the most advanced advisory services. Swedbank Latvia has a wide infrastructure: 47 branches, 402 ATMs and BNAs; and electronic solutions, very highly evaluated by its customers - by phone, internet bank and mobile application.