Sparekassen Sjælland-Fyn A/S (CPSE : SPKSJF) entered into an agreement to acquire Totalbanken A/S.

Sparekassen Sjælland-Fyn A/S (CPSE : SPKSJF) entered into an agreement to acquire Totalbanken A/S (CPSE:TOTA) on May 24, 2023. Upon closing, Totalbanken will be merged with Sparekassen. The two banks have a total of around 1,325 employees and 60 bank branches.

The acquisition is still subject to approval by the Danish Financial Supervisory Authority as well as the general meeting of Totalbanken and the governors of Sparekassen Danmark. As of July 3, 2023, The Danish Competition and Consumer Authority has approved the transaction.