COPENHAGEN, Sept 18 Danish banks Spar Nord Bank
and Sparbank are to merge to create an
enlarged group with nationwide coverage and be in a better
position to be competitive in the retail and commercial customer
segments, improving earnings.
The banks said on Tuesday Sparbank shareholders would
receive two new shares in Spar Nord for each share currently
held in Sparbank.
Including Spar Nord Bank's 67 branches the merged bank will
have 90 branches at the date of the merger, they said.
Last week, two of Denmark's smaller listed banks, Salling
Bank and Vinderup Bank, said they were to
(Reporting by Mette Fraende; Editing by Dan Lalor)
(Copenhagen newsroom, tel: +45 3396 9649, e-mail: