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2009-08-31 08:50:43 CEST 2009-08-31 08:51:30 CEST REGULATED INFORMATION Føroya Banki P/F - FyrirtækjafréttirFøroya Banki still on exspansion course in DenmarkAnnouncement 23/2009 In collaboration with Lån og Spar Bank, Føroya Banki made an offer to Finansiel Stabilitet A/S regarding acquisition of significant parts of Fionia Bank A/S. However, Finansiel Stabilitet has announced that the bank is being sold to another party. As one of the ten largest banks in Denmark - measured on market value - Føroya Banki is continuously exploring the possibilities of actively participating in the expected consolidation of the Danish banking sector. The Bank's focus on this is in concordance with the growth strategy announced by the Bank in connection with the floatation in 2007, which has been the indicator of the Bank's development ever since. As part of this strategy, the Bank intends to increase its assets outside of the Faroes, where the Bank holds a market share in excess of 40%. -- We have had healthy earnings for many years, that is why we have the financial strength to make fulll use of the present opportunities in the Danish banking sector. However, we are prepared to be patient and wait for the right opportunity. We will continue to focus on servicing retail and small to medium corporate customers and emphasise low credit risk, as we do in our home market, Janus Petersen, CEO of Føroya Banki says. Føroya Banki is among the best consolidated financial institutions in the North. Further information: Janus Petersen, CEO, tel. (+298) 330 340 |
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