Jyske Bank has signed a binding agreement to purchase all shares in FP Kapital, the company behind Formuepleje.
Formuepleje is an independent wealth management firm in Denmark.
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It has about 14,000 investors, manages roughly DKr40bn ($6.2bn) in assets and employs nearly 100 people. Its activities are concentrated mainly in the Aarhus and Copenhagen areas.
The bank said the purchase fits its plan to expand further in wealth management and increase its reach among affluent clients.
Jyske Bank expects the deal to add a little more than DKr 200m in annual net fee income.
It also said the transaction should have a positive effect on earnings per share from 2028.
Integration expenses are estimated at around DKr100m, while net capital consumption is expected to be close to 0.1% of the bank’s risk exposure amount.
The bank’s earnings per share outlook for 2026 is unchanged at DKr71-85, equal to projected net profit of DKr4.3bn-5.1bn.
The acquisition still depends on a number of standard closing conditions, including regulatory approval. Completion is expected in the fourth quarter of 2026.
Jyske Bank CEO Lars Mørch said: “Through the acquisition, Jyske Bank aims to build on Formuepleje’s strong advisory model, customer relationships and highly skilled employees. Our ambition is to further develop Formuepleje’s business and customer offering based on the company’s existing strengths. At the same time, Formuepleje will gain access to Jyske Bank’s scale benefits, platform and capabilities within asset and wealth management.
“The transaction also creates opportunities to complement Jyske Bank’s product offering within selected alternative investments such as real estate and private equity, while providing Formuepleje’s customers access to Jyske Bank’s broader range of products and advisory services.”
