Sydbank — Regulatory Filings 2011

Oct 11, 2011

News Details

UK Regulatory | 11 October 2011 08:59

Sydbank to adapt the organisation, its service concept and

Sydbank A/S / Miscellaneous

11.10.2011 08:59

Dissemination of a UK Regulatory Announcement, transmitted by
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The issuer is solely responsible for the content of this announcement.

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Aabenraa, Denmark, 2011-10-11 08:59 CEST (GLOBE NEWSWIRE) --
Sydbank's management has decided to introduce a series of measures to ensure
that the business continues to be sound and strong. The new measures comprise:

TerminaOtion of employment of 89 employees.

-- Termination of employment of 89 employees.
-- Ongoing adaptation of the service concept by means of changed business
hours as regards cashier services in the majority of the Bank's branches.
-- The service of retail clients residing outside Denmark will be based in the
Bank's German region.
-- Sydbank (Schweiz) AG will transfer some of its clients to Nordea
International Private Banking in Switzerland.
-- Sydbank will take over the private banking activities of Gries &
Heissel Bankiers AG. According to the agreement Sydbank will be represented
also in Berlin and Wiesbaden as of 1 January 2012.
-- An increase in the interest rates of floating-rate loans by up to 0.50
percentage points as of 14 October 2011.

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Language: English
Company: Sydbank A/S

                Dänemark

Phone:
Fax:
E-mail:
Internet:
ISIN: DK0010311471
Category Code: MSC
LSE Ticker: 0G6U
Sequence Number: 916
Time of Receipt: Oct 11, 2011 08:59:04

End of Announcement DGAP News-Service

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