Nordea to Sell Debt Collection Items to Balancon Assets Oy

Nordea and Balancon Assets Oy have made an agreement where Nordea sells its debt collection items in Finland to Balancon. Approximately 52,000 debt collection items without real security will be transferred.

Balancon Assets Oy is a subsidiary of Contant Oy. Nordea sold majority interest in Contant Oy to Sponsor Capital in June 2002.

The transaction has no effect on customers’ banking relations or on the ongoing debt reconciliation programme. The buyer commits to continue the programme with present terms and conditions.

Nordea continues to focus on core business and this deal is a natural step in the development.

About Nordea
Nordea is the leading financial services group in the Nordic and Baltic Sea region with approximately EUR 261 billion in total assets and operates through three business areas: Retail Banking, Corporate and Institutional Banking and Asset Management & Life. For more information, please visit www.nordea.com.