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Ringkjøbing Landbobank merger with Nordjyske Bank cleared

Ringkjøbing Landbobank A/S said Nordjyske Bank A/S's extraordinary general meeting adopted the proposal for a merger between the two Danish lenders.

Meanwhile, the Danish Financial Supervisory Authority approved the merger, which is expected to be registered with the Danish Business Authority on June 8.

The Danish FSA also approved Ringkjøbing Landbobank's new share buyback program of up to 300 million Danish kroner.

As of June 7, US$1 was equivalent to 6.30 Danish kroner.