Amagerbanken, Copenhagen has joined DnBNOR, OKO Bank and Swedbank to become the fourth leg of the Nordic Custody Alliance.
The Nordic Alliance is a custody, clearing and settlement product cooperation originally formed in 2002 by DnBNOR and Swedbank with OKO Bank joining in October of 2003. The addition of Amagerbanken completes the four-country partnership, which offers both international and domestic financial institutions securities services across the Nordic region.
“Although relatively unknown to the international custody community at the present time, Amagerbanken has an excellent product and service offering which is a perfect complement to the three current members,” DnBNO, OKO Bank and Swedbank said in a joint press release. “Amagerbanken brings to the Alliance highly efficient and automated processing capabilities harmonized with a knowledgeable and very personable staff.”
Amagerbanken was established in 1903 as a local Copenhagen bank based on the island of Amager. Amagerbanken has developed into a regional bank. The Amagerbanken Group includes Amagerbanken Aktieselskab with 27 branches in Greater Copenhagen, Odense and Aarhus. Moreover, the Group includes ab finans Aktieselskab, a subsidiary engaged in commercial leasing and car financing.