Danske Bank is selling the private customers' credit portfolio in Lithuania

Danske Bank A/S Lithuania branch signed an agreement with Siauliu bankas regarding the sale of Danske Bank’s retail credit portfolio with a value of 125 million EUR. The transaction is expected to be completed within four months of signing the agreement.
Siauliu bankas will take over the credit portfolio of the Danske Bank Lithuanian branch private customers, including all related liabilities. The majority of the portfolio consists of mortgage loans, as well as consumer loans and leasing.
The terms of the credit agreements will remain unchanged after the transaction for customers of the Danske Bank A/S Lithuania Branch. In the meantime, customers do not need to take any action, and their loan servicing will continue as usual. Affected customers will be notified of the transfer procedures and receive further instructions in a separate notice, when the sale is formally in place.
“In February 2019, we announced the closing of all our banking activities in the Baltics. Today’s agreement marks another important step towards this goal and represents a good solution for our private customers in Lithuania,” says Frederik Bjørn, Head of the Baltics and Russia, Danske Bank.

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