According to a decision published today, the Financial Supervisory Authority has designated Danske Bank Plc as a systemically important financial institution (other systemically important institution, O-SII) for the Finnish national financial system as referred to in the Act on Credit Institutions. In conjunction with this, the Financial Supervisory Authority imposed a 0,5%’s capital add-on, which will enter into force on 7 January 2016, on Danske Bank Plc on account of its systemic importance.
European financial supervisors annually assess and rate the institutions operating within their jurisdiction. The European Central Bank (ECB) had already previously designated Danske Bank Plc as a systemically important bank, and Danske Bank Plc’s supervision was transferred to the ECB in November 2014.
“The Financial Supervisory Authority’s designation confirms that Danske Bank plays a major role in the Finnish banking system and as a trusted banking partner for Finnish customers. Danske Bank Plc’s capital adequacy is strong, and the capital add-on does not affect our ability to serve Finnish bank customers. Danske Bank’s aim is to grow in Finland, and our strong capital adequacy provides a good foundation for this,” says Risto Tornivaara, CEO of Danske Bank Plc.
Risto Tornivaara, CEO, Danske Bank Plc
For an interview with Risto Tornivaara, please contact Irja Kukkola tel. +358 10 546 8006.
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This is a translation of a company announcement in the Finnish language. In case of discrepancies, the Finnish version prevails.
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