Bank's lending portfolio sale transaction was completed in less than 6 months with FSQUARE coordination of the process. In scope of the transfer was all Danske Bank's Latvian lending portfolio that contained term loans, leasing agreements and guarantees. All the customers with their outstanding balances were transferred to Luminor Bank and Luminor Leasing respectively.
Banking portfolio sale transaction is never an easy task. Tendering, due diligence and signing a contract is just a half of the transaction (announced here).
Execution part – that’s where every detail matters and where FSQUARE team is in its best. By executing project manager’s, IT lead and PMO roles FSQUARE supported Danske Bank team to close this cross-border transaction with Luminor Latvia on 1st April 2021 as planned.
Now, once the hypercare period is over with no issues raised, we can call it success.