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Acquiring a bank

Acquiring a bank is complicated transaction. It involves all the processes of acquisition including receiving financial regulatory approvals.
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  • DENMARK

    Inhabitants - 5,529,888 (July 2011)

    Language - Danish, Faroese, Greenlandic (an Inuit dialect), German (small minority)

    Currency - Danish krone (DKK), fixed with EUR at 0.134; floating +/- 2.25%

    Religion - Evangelical Lutheran (official) 95%, other Christian (includes Protestant and Roman Catholic) 3%, Muslim 2%

    Politics -The politics of Denmark takes place under the framework of a parliamentary, representative, democratic and constitutional monarchy, in which the Prime Minister is the head of government, and there is a multi-party system. The Monarch is the head of state and plays a largely ceremonial role with reserve powers. Executive power is exercised by the government, with the prime minister acting as primus inter pares. Legislative power is vested in both the government and the Danish parliament, the Folketinget.

  • Major industries - iron, steel, nonferrous metals, chemicals, food processing, machinery and transportation equipment, textiles and clothing, electronics, construction, furniture and other wood products, shipbuilding and refurbishment, windmills, pharmaceuticals, medical equipment

    Banks (2010) - 123 banks; 1,598 branches; 44,186 employees; assets – EUR 826,85 billion; loans – EUR 517,12 billion; deposits –EUR 200,23 billion 

    Banking regulations – The primary task of the Danish FSA is supervision of financial undertakings – banks, mortgage-credit institutions, pension and insurance companies, etc. The most important supervisory activity is ensuring that undertakings have adequate own funds to cover their risks (supervision of solvency). The Danish FSA also supervises the securities markets in Denmark. It ensures that listed companies comply with their obligations to publish internal knowledge and other relevant information. Supervision of the stock market also includes supervision to make sure that prospectuses are published when securities are offered to the public and that prospectus materials satisfy all statutory requirements. Finally, the Danish FSA monitors the markets with a view to intervening in market abuse (insider dealing and price manipulation).

  • The Danish FSA is responsible for issuing licences to banks. The minimum share capital requirement to establish a bank is EUR 8 million. In addition to supervisory activities, the Danish FSA assists in drawing up financial legislation and issues executive orders for the financial area. Finally the Danish FSA collects and communicates statistics and key figures for the financial sector.