Bankrupt Danish Bank Roskilde sold

The bankrupt Danish Bank Roskilde received no bidders as the Central Bank of Denmark looked to unload the bank as quickly as possible. Roskilde got into trouble after the Danish economy turned down and loans it had made to home builders went sour. Eventually, Roskilde became the third large European institution to fail since the credit crisis began, joining IKB of Germany and Northern Rock of the UK. All three failures were directly related to the mortgage crisis.

After no lending institution, foreign or domestic came forward, the Danes were forced to settle for a partial sale to private lenders, keeping a rump stake themselves.

Danish Central Bank, Grouping Acquire Roskilde Bank, Bloomberg

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