Gernandt & Danielsson advises FOREX Bank, which on 22 December 2020 has entered into an agreement with ICA Banken regarding the transfer of FOREX Bank’s deposit and lending portfolios. The transaction encompasses a business volume of approximately SEK 15 billion, of which the deposit portfolio accounts for SEK 8.8 billion and the lending portfolio accounts for 6.4 billion, and results in the transfer of approximately 235,000 customers from FOREX Bank to ICA Banken.

The transaction is conditional upon customary regulatory approvals. Completion is expected to take place during the second quarter of 2021.

Gernandt & Danielsson advises FOREX Bank with a team consisting of Partner Mats Hugoson, Senior Associate Björn Hård af Segerstad and Associates Andreas Lexhag and Ludvig Eriksson.