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

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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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