Danske Bank acquired Finnish Sampo Bank in November 2006 and has migrated the bank on to the Group's shared platform in March 2008.
During the migration, all existing transactions and services was transferred to the Danske Bank platform, and Sampo Bank’s existing systems and technology was subsequently shut down.
The migration of Sampo Bank was based on an integration model in which the Group has collected methods and experience from previous integrations implemented by the Group.
The synergies resulting from the consolidation on the shared platform mean that total Group IT costs should fall long term in relation to total costs. The costs of the Sampo Bank integration are likely to run into DKK 1.6 billion, including the integration of the Baltic States. Part of the amount will be spent on boosting Group functionalities that can also be used by other brands and countries.
The acquisition of Sampo Bank also included banks in the three Baltic States. The integration of these banks will take place in steps during 2008 and 2009 when the integration of all three banks into the shared Group platform is set to be complete.
The branding with new names, logo, etc., of Sampo Bank in Finland and the three Baltic banks is scheduled for the spring of 2008.
Last updated on March 26, 2008