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Finland: Merger throws third-largest lender into home mortgages market

By  |  August 23, 2013

Finland’s third-largest bank by customers, S-Bank Oy, is looking to enter the nation’s $115 billion home-loan market through its merger with LaehiTapiola Bank Oy, say reports. S-Bank’s CEO Pekka Ylihrula confirmed the news and announced the transaction will allow its market share to “multiply.” The deal is part of S-Bank’s largest agenda “to be the leader in consumer loans, third-largest in salary accounts and third-largest in funds,” according to the CEO. The buyout was launched last June. Mortgage and insurance products will be added to the bank’s portfolio by next year.

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