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Infinite loan terms

For a number of customers the term of their loan have unfortunately become infinite, due to a lack of controls, which we failed to inform them about. In addition, we failed to follow up to ensure that customers had an appropriate repayment profile. The loan term had become infinite because payments did not cover interest accrued after interest rate increase in a period between 2007 and 2012.

Adjustments were made to ensure none of the affected loans have infinite terms and system changes are implemented, so that if the interest rate changes, we are able to prevent the loan term from extending beyond a certain limit.

Customers affected and information to them

We have completed our analysis and found that the issue concerns 39 private customers in Denmark, where our early estimate was fewer than 100 customers. We have contacted all affected customers, adjusted their terms and conditions individually, and prepared new loan repayment agreements. 

Numbers below updated 9 December 2021

39 customers are affected

All customers are  informed about being affected

Affected customers have had their terms adjusted and new loan repayment agreement


  • We have contacted all affected customers, changed their terms and conditions individually and prepared new repayment agreements. The Danish FSA has been informed of our work, and we consider the case to be closed.

  • In October 2020, we inform affected customers about their loan terms being infinite and that we therefore had reset the interest rate on their loan. We ensure them that we will return with a proposal on how to best repay the loan as well as providing them further information on the future interest rate on their loan.

    We are still analysing a number of loans that potentially have unusually long terms, and if we discover anomalies, we will provide information and advice to affected customers accordingly.

  • In October 2020, adjustments are made to ensure none of the affected loans have infinite terms.

  • In September 2020, we identify a group of customers for whom the term of a loan is infinite. To assess the scope of the problem, an internal review is initiated.

    We also decide to review a number of loans with unusually long terms, in relation to which the customers may need advice and adjustment of the terms.

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Are you or do you think you are affected by the issue?

We will contact affected customers directly.
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