Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE  
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel,   BELGIË  
 
Tel: +32 229- 91111. Fax: +32 229- 64301. E -mail: COMP -MERGER -REGISTRY@ec.europa.eu.  
  EUROPEAN COMMISSION  
Brussels, 4.10.2022  
C(2022) 7171 final  
PUBLIC VERSION  
Danske Bank A/S  
Holmens Kanal 2 -12 
1092 Copenhagen K  
Denmark 
 
Länsförsäkringar Bank AB  
Tegeluddsvagen 11–13 106 50 Stockholm  
Sweden  
 Nordea Bank Abp 
Smålandsgatan 15, H50  
105 71 Stockholm  
Sweden  
 
SBAB Bank AB  
Box 4209 171 04 Solna  
Sweden   
 Skandinaviska Enskilda Banken AB  
Stjärntorget 4, A S13  
106 40 Stockholm  
Sweden  
 Svenska Handelsbanken AB 
Kungsträdgårdsgatan 2 
106 70 Stockholm  
Sweden  
 Swedbank AB 
Landsvägen 40, 172 63 Sundbyberg 
105 34 Stockholm  
Sweden  
Subject : Case M.10766 – DANSKE BANK / LANSFORASAKRINGAR BANK / 
NORDEA / SBAB BANK / SEB / HANDELSBANKEN / SWEDBANK / JV  
Commission decision pursuant to Article  6(1)(b) of Council Regulation 

 
2 
 (EC) No  139/20041 and Article 57 of the Agreement on the European 
Economic Area2  
Dear Sir or Madam,  
1. On 8 September 2022, the European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger Regulation, by which Danske Bank 
A/S (‘Danske Bank’, Denmark), Länsförsäkringar Bank AB (‘Länsförsäkringar 
Bank’, Sweden), Nordea Bank Abp (‘Nordea’, Finland), SBAB Bank AB (publ) 
(‘SBAB Bank’, Sweden), Skandinaviska Enskilda Banken AB (publ) (‘SEB’, 
Sweden), Svenska Handelbanken AB (publ) (‘Handelbanken’, Sweden), Swedbank 
AB (publ) (‘Swedbank’, Sweden), will acquire within the meaning of Article 3(1)(b) 
of the Merger Regulation joint control over the whole of Tambur (owned by UC AB, 
Sweden) by way of purchase of assets.3 
2. The business activities of the undertakings concerned are the following:  
— Tambur is a digital communication platform supporting the residential 
property transactions processes for banks and real esta te agents in the 
Swedish market, 
— Danske Bank is a Danish based financial services company. Danske Bank is 
active in retail and wholesale banking, pension schemes, insurance, mortgage 
finance, asset management, brokerage, real estate, and leasing services; primarily in the Nordics and ot her Northern European countries, 
— Länsförsäkringar Bank is a Swedish based financial services company 
offering services in Sweden. Länsförsäkringar Bank offers financial services 
to retail, agriculture and SME corporate customers, including loans, saving s, 
advisory services, deposits, accounts and payments services and pension 
products. Länsförsäkringar Bank is also through a subsidiary a ctive in 
leasing/hire purchases,  
— Nordea is a Finnish based bank, which offers a full range of services within 
the four main business areas: personal banking, business banking, large 
corporates and institutions as well as asset and wealth management; 
primarily in its four Nordic home markets – Denm ark, Finland, Norway and 
Sweden,  
— SBAB Bank is a state -owned Swedish bank that operates in the Swedish 
housing loan market, directed at individuals, tenant -owner associations and 
companies. SBAB Bank also offers savin gs products and unsecured loans, 
                                                 
1 OJ L 24, 29.1.2004, p. 1 ( the ‘Merger Regulation ’). With effect from 1 December 2009, the Treaty on 
the Functioning of the European Union ( ‘TFEU ’) has introduced certain changes, such as the 
replacement of ‘ Community ’ by ‘Union’  and ‘common market ’ by ‘internal market ’. The terminology 
of the TFEU will be used throughout this decision.  
2  OJ L 1, 3.1.1994, p. 3 (the ‘EEA Agreement’). 
3  Publication  in the Official Journal of the European Union No C 356, 16.9.2022, p. 6.  
 
3 
 — SEB is a Swedish based bank, which offers a full range of financial services 
to private and corporate customers, including investment banking, retail and 
wholesale banking, loans, savings, insurance, mortgage loans, asset and 
investment management, advisory services, and leasing; primarily in the 
Nordics, the Baltics, and Germany,  
— Handelsbanken is a Swedish based bank, which offers a full range of financial services, covering the whole banking area with traditional corporate 
transactions, investment banking and trading, as well as retail banking, 
including life insurance; primarily in the Nordics, the UK and the 
Netherlands, 
— Swedbank is a Swedish based bank, which offers a full range of financial 
services to retail and corporate customers and the public sector, including 
loans, savings, advisory services, deposits, accounts and pa yments services 
and pension products; primarily in the Nordics and the Baltic countries. 
3. After examination of the notification, the European Commission has concluded that 
the notified operation falls within the scope of the Merger  Regulation  and of 
paragra ph 5(a) of the Commission Notice on a simplified procedure for treatment of 
certain concentrations under Council Regulation (EC) No  139/2004.
4 
4. For the reasons set out in the Notice on a simplified procedure, the European 
Commission has decided not to oppos e the notified operation and to declare it 
compatible with the internal market and with the EEA Agreement. This decision is 
adopted in application of Article 6(1)(b) of the Merger  Regulation and Article 57 of 
the EEA Agreement . 
For the Commission  
 
 
(Signed)  
Olivier GUERSENT  
Director -General  
                                                 
4  OJ C 366, 14.12.2013, p. 5.