Analysts following the Norwegian banking market point to Den norske Bank (DnB), Norway’s largest bank and which has the state as its largest shareholder, as the favourite to take over loss-plagued Nordlandsbank. Nordslandsbank has been crippled by huge losses tied to the Finance Credit scandal.
DnB, they note, has the necessary capital, is keen to expand and already has been buying up Nordlandsbanken shares. The newspaper Dagens Naeringsliv reported that DnB took over shares held by its Vital unit, and now holds more than 6 percent of the troubled bank.
DnB, with its extensive network in Norway, presumably would also be best positioned to absorb Nordlandsbanken operations and cut costs. Nordlandsbanken currently has about 400 employees.
