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Fionia Bank CEO Henrik Borup Jeppesen is to leave the bank and be replaced on Feb. 1, by Jørgen Bast who is currently Credit Director at Sparbank.
The move comes following the latest accounts from Fionia Bank which showed losses in the first nine months of 2008 of DKK 333 million, predominantly as a result of writedowns of some DKK 500 million. The financial crisis has caused bankruptcy filings for several of the bank’s property development clients.
