Yesterday, Fionia Bank announced it has entered into an agreement with the Danish government where the banking activities in the current Fionia Bank will be transferred to a new company founded and owned by Fionia Bank, but with control vested in the Danish government. In exchange, Fionia Bank will receive DKK 1 billion (approximately $171 million) from the Danish government to boost its solvency ratio to 13%. This transaction is funded under the Danish government's DKK 100 billion rescue package announced last month.