EU regulators to investigate Vestjysk Bank state aid

Vestjysk Bank A/S

04/12/2015 11:12

BRUSSELS, Dec 4 (Reuters) - European Union regulators opened 
on Friday an investigation into 1.2 billion euros ($1.30 
billion) in state aid granted by Danish authorities to Vestjysk 
Bank  VJBA.CO , concerned that the lender's planned overhaul 
would not ensure its long-term viability. 
    The European Commission, which had temporarily cleared the 
Danish aid in April 2012 while it waited for the bank to come up 
with its revamp plan, said it would look into several elements 
before making a final decision. 
    "The Commission will also assess whether the bank and its 
owners contributed sufficiently to the costs of the 
restructuring and whether appropriate measures have been put in 
place to minimise the competition distortion brought about by 
State aid," the EU executive said. 
    ($1 = 0.9199 euros) 
 
 (Reporting by Foo Yun Chee) 
 ((foo.yunchee@thomsonreuters.com)(+32 2 287 6844)(Reuters 
Messaging: foo.yunchee.thomsonreuters.com@reuters.net)) 
 
Keywords: EU VESTJYSK BANK/STATEAID