Reference is made to prior announcements regarding the merger betweenEasybank ASA (Easybank ) andBRAbank ASA (BRAbank) approved by the companies' extraordinary general meetings16 July 2020 , with the intent to create a leading digital niche bank in B2C and SME with a Nordic footprint.Easybank and BRAbank are pleased to announce that theFinancial Supervisory Authority of Norway (Finanstilsynet) has approved the merger, enabling formal completion by1 October 2020 , as previously communicated. The Pillar II requirement for the merged bank has been set to 6.5%, subject to a renewed assessment in the SREP review in 2022.Easybank's CEO Oddbjørn Berentsen will continue as CEO for the combined bank, which will be namedBRAbank ASA and headquartered inOslo .Easybank's ChairmanSvein Lindbak will be appointed Chairman for the combined bank, and BRAbank's ChairmanViggo Leisner will continue as Vice Chairman. For further information contact: Oddbjørn Berentsen, Chief Executive Officer atEasybank , phone: +47 22 99 14 00, ir@easybank.noViggo Leisner , Chairman of the Board BRAbank, phone: +47 920 69 998 This information is subject to the disclosure requirements pursuant to section 3.1.1 of the continuing obligations for companies admitted to trading onMerkur Market .
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