Swedish bank SEB said on Monday that it has agreed to buy Norwegian lender DnB NOR's retail customer mortgage loan portfolio in Sweden. The agreement covers around 5,000 customers and a mortgage lending volume of approximately SEK 7 bn (EUR 780 mln).

'DnB NOR has decided to discontinue its mortgage lending business in Sweden. SEB can solve these customers' needs of financing their housing. And being a universal bank SEB can also meet other banking needs for the customers, such as saving in a broad perspective and financial advicing,' said Mats Torstendahl, head of SEB Retail Banking.

The customers will gradually be transfered to SEB over a period of three months.