Group structure
Finansiel Stabilitet focuses on winding up its subsidiaries and wishes to ensure that the customers of the banks acquired receive uniform and consistently proper and fair treatment. In order to ensure that the Finansiel Stabilitet group is able to meet the requirements that follow from this focus, Finansiel Stabilitet adjusted its group structure with effect from mid-2011. The new structure involves the establishment of the following staff functions responsible for the drafting of policies and sparring with the subsidiaries
• Human Resources
• IT
• Communication
• Legal, compliance and management services
• Finance
The group's activities are carried on in the following companies:
FS Bank A/S
The main object of FS Bank is to ensure the best possible economic return on the winding-up of banks overtaken by Finansiel Stabilitet, including to ensure that customers receive proper and fair treatment in the process of helping them find another bank for their banking business.
FS Bank is the group's only company with a banking license and a securities trading authorisation, and the customer portfolio is composed of many different types of corporate customers, including property companies, limited partnerships (K/S) and agricultural customers. Common to these customers is that they need a banker to continue the operation of their business. In connection with the establishment of the new group structure, FS Bank has received customers from Roskilde Bank and EBH Bank.
The services provided by FS Bank solely comprise basic banking services for corporate customers, such as credit lines, debit cards and online banking. Moreover, the bank is in charge of payment transfers for the group's remaining savings account customers and acts as custodian bank for all financial charges.
FS Bank was established on the platform of the former Nova Bank Fyn.
FS Bank has nearly 800 corporate customers and a balance of almost DKK 5 billion.
FS Bank has offices in Odense and Roskilde.
FS Finans A/S
The main object of FS Finans is to ensure the best possible economic return of the winding-up of activities overtaken by Finansiel Stabilitet, including winding-up the majority of the group's loans and advances, e.g. exposures secured against real property and mortgage deeds.
FS Finans has nearly 2,000 customers and a balance of approx. DKK 9 billion. In connection with the establishment of the new group structure, FS Finans has has received customers from Nova Bank Fyn and EBH Bank.
The company's competences comprise the winding up of loans, insolvency proceedings and debt collection. Loans and guarantees are the only products offered by the company.
FS Finans was established on the platform of the former Roskilde Bank, which was taken over by Danmarks Nationalbank and the Private Contingency Association on 24 August 2008 with a view to winding up. Roskilde Bank was transferred to Finansiel Stabilitet on 10 August 2009.
FS Finans has offices in Roskilde, Odense and Aalborg.
FS Pantebrevsselskab A/S
The main object of FS Pantebrevsselskab's is to handle and wind up the group's mortgage deeds in a manner that will minimise losses. The company may – in preparation for resale - take over the properties to which the mortgage attaches, if this contributes to minimising losses.
The company manages over 4,000 mortgage deeds and handles all services related to mortgage deeds: administration, debt collection and the taking over of properties in forced sale auctions, etc. Moreover, FS Pantebrevsselskab takes over properties which are immediately ready for sale, while properties offering development potential are handled by FS Ejendomsselskab.
FS Pantebrevsselskab was established in mid-2009, when Finansiel Stabilitet took over the remaining activities of Gudme Raaschou Bank
FS Ejendomsselskab A/S
FS Ejendomsselskab acquires properties as part of the winding up of Finansiel Stabilitet's customers. The properties, which are often distressed and unfinished or in disrepair, are acquired on an arm's length basis with a view to restoration, completion of development, letting and divestment.
FS Ejendomsselskab was established by Roskilde Bank A/S in 2009 under the name of Rosk Ejendomme as part of the winding up of Roskilde Bank's customers. As part of the establishment of Finansiel Stabilitet's new group structure, this company was renamed FS Ejendomsselskab and, in future, it will take over properties from the entire FS group.
The company's portfolio of properties comprises a mixture of residential, commercial, industrial and warehouse properties.
Amagerbanken af 2011 A/S
Until further notice, Amagerbanken af 2011 A/S is an independent subsidiary of Finansiel Stabilitet. Amagerbanken af 2011 A/S will draw on the professional competences and administrative functions available within the group.
Fjordbank ors af 2011 A/S
Effective on and after 24 une 2011, Fjordbank Mors af 2011 A/S has transferred its assets to a newly formed subsidiary bank under Finansiel Stabilitet.
Max Bank of 2011 A / S
With effect from the 8th October 2011 Max Bank of 2011 A / S is transferred to the Financial Stability as an independent subsidiary.