The Leading Stocks Quotes Powered by Forexpros - The Leading Financial Portal
Danish government takes over another bankMonday, 20 February 2012
The Danish banking crisis continues as Vestjysk Bank has completed a conversion of state loans, and interest thereon, into shares after which the Danish state took over the majority shareholding in the bank.
The state holding amounts to 53.14 percent stake in the bank and one adds 2.25 percent, which is managed by Finansiel Stability, which is the government arm of the Danish government that controls the Danish financial sector.
The state’s ownership in Vestjysk Bank is now up to atotal of 55.39 percent of the capital and votes.
Vestjysk Bank shares fell 5.6 percent after the announcement, which means that the shares have now lost over 78 percent in two years.
Vestjysk Bank earlier this year announced a rights issue and the desire to merge with Aarhus Local Bank.
By Scancomark.se Team
Live Economic Calendar Powered by Forexpros - The Leading Financial Portal
Back to top