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 Directors of Bergen Bank and Den Norske Creditbank, two of Norway's leading banks, announced 
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they had agreed to the formal merger of the banks.
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 The merger would create Scandinavia's seventh largest bank, with combined assets of 210 billion Norwegian kroner 
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($30.3 billion).
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 The banks said 
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an application for a concession 
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to merge into one entity 
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to be called Den Norske Bank AS 
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was sent Monday to the Finance Ministry. 
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 The two boards said in a joint statement 
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that the proposed merger agreement was considered in separate board meetings in Oslo Monday.
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 They said 
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the agreement will be submitted to their respective supervisory boards next Wednesday.
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 Extraordinary general meetings,
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 to be held Nov. 28,
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 will decide the share exchange ratio.
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 The merger requires the approval of Norwegian authorities.
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