Nasdaq Copenhagen A/S London Stock Exchange Bourse de Luxembourg Other stakeholders Company Announcement No 06/2020 |
Peberlyk 4 6200 Aabenraa, Denmark Tel +45 74 37 37 37 Fax +45 74 37 35 36 Sydbank A/S CVR No DK 12626509, Aabenraa sydbank.dk |
26 February 2020 |
Dear Sirs
Correction Company Announcement No 04/2020
Sydbank to change negative interest limit on retail client deposits
Due to the market situation and since it is expected that the negative interest rate level will continue for some years, Sydbank finds it necessary effective from 1 May 2020 to set a DKK 250,000 limit regarding negative interest on retail clients’ deposits. The limit applies to an account when the client has a NemKonto account with Sydbank. On other accounts NemKonto clients will continue to pay negative interest on amounts exceeding DKK 50,000.
If a client does not have a NemKonto account with Sydbank, the client will be charged interest on all deposit accounts.
Deposits in the region of DKK 6-7bn will be affected by the above changes.
Yours sincerely
Karen Frøsig Jørn Adam Møller
CEO Deputy Group Chief Executive
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