The Danish Competition and Consumer Authority (DCCA) has received a draft simplified notification concerning a proposed merger between Middelfart Sparekasse and Aktieselskabet Nordfyns Bank (“Nordfyns Bank”). Under the proposal, the two institutions would be merged, with Middelfart Sparekasse continuing as the surviving entity.
According to the parties, the transaction constitutes a merger subject to the provisions of the Danish Competition Act on merger control. Consequently, the merger cannot be implemented until it has been approved by either the DCCA or the Danish Competition Council.
The draft notification has been submitted under the simplified procedure. However, the DCCA has not yet determined whether the merger meets the conditions necessary for assessment under this procedure.
Company Backgrounds
Middelfart Sparekasse is a guarantee savings bank headquartered in Middelfart, with 16 branches located across Funen, Jutland, and Copenhagen. As of 31 December 2024, the bank served approximately 99,000 customers. Middelfart Sparekasse offers a broad range of traditional banking services for private and business clients, including deposits, lending, guarantees, and advisory services related to mortgage loans, investments, pensions, and insurance.
Nordfyns Bank is a listed limited liability company based in Odense. It operates seven branches and three business centres across Funen and, as of 31 March 2025, had around 26,000 customers. Nordfyns Bank provides conventional banking services for both private and corporate customers, including deposits, loans, guarantees, and financial advice in the areas of mortgages, investments, pensions, and insurance.
Invitation to Comment
The Danish Competition and Consumer Authority invites all interested parties to submit comments on the proposed merger no later than 12 November at 12:00 noon.
Submissions should be directed to the DCCA as part of its market consultation process concerning the transaction.
