Competition Authority Approves Sydbank's Acquisition of Coop Bank
The Competition and Consumer Authority has given the green light to Sydbank's purchase of Coop Bank following a simplified procedure due to no competition concerns.
26.06.2024 | Danish competition authority
The Competition and Consumer Authority has approved the acquisition of Coop Bank by Sydbank A/S through a simplified procedure, indicating no competition issues were identified. The decision was based on the merger notification, the authority's knowledge of relevant markets, and the absence of objections from any party.
Coop Bank, headquartered in Albertslund, offers traditional banking services to around 88,000 private customers and does not have any branches. On the other hand, Sydbank, based in Aabenraa, operates 57 branches in Denmark and Germany, providing similar services to individuals, facilitating mortgage loans through Totalkredit, serving corporate clients, and participating in various financial markets.