Four major banks are in a financial bind with the financially distressed solar cell company Obton. According to the company's 2023 financial statements, Nordea, Danske Bank, Jyske Bank and Sydbank have provided a total of 1.2 billion kroner in credit. This is reported by Børsen.
Jyske Bank has informed the media that the bank has made a write-down as a result of Obton's financial situation. Nordea, which is Obton's primary bank, does not want to disclose the extent of the exposure.
In May, Obton was reported to the police by the Danish Financial Supervisory Authority, which asked NSK to initiate an investigation into Obton Forvaltning – the company that manages investors' funds. According to the supervisory authority, Obton Forvaltning has grossly failed to meet a number of statutory obligations. Later that month, Obton announced a loss of between 1.6 and 1.7 billion DKK before tax in 2024, which will erode the company's equity, which is estimated at 360 million DKK.
amp
Text, graphics, images, sound, and other content on this website are protected under copyright law. DK Medier reserves all rights to the content, including the right to exploit the content for the purpose of text and data mining, cf. Section 11b of the Copyright Act and Article 4 of the DSM Directive.
Customers with IP agreements/major customer agreements may only share Danish Offshore Industry articles internally for the purpose of handling specific cases. Sharing in connection with specific cases refers to journaling, archiving, or similar uses.
Customers with a personal subscription/login may not share Danish Offshore Industry articles with individuals who do not themselves have a personal subscription to Danish Offshore Industry.
Any deviation from the above requires written consent from DK Medier.
