In November 2019, Sbankens CEO, Øyvind Thomassen, made this statement which aged especially well:
It is a paradox that we as a challenger bank must hold capital for systemic risk, and with that, we may end up being outcompeted. If the result is that we in Norway are left with only four to five banks, it can not mean less systemic risk at all. Source
I’ve written more about the opportunities this acquisition gives for Norwegian savings banks, as well as DNBs options going forward. Read here in DN.
Good reads on the acquisition
- The story of Sbanken. Link
- DNB should switch to Sbankens plattform. Link
- Bulder Bank: The customers are pouring in! Link