Lunar Bank Faces Uncertainty

The Danish Financial Supervisory Authority (Finanstilsynet) has expressed concerns about the digital bank Lunar Bank, stating that there is “significant uncertainty” regarding its ability to achieve a sustainable business model. The authority’s report, following a January visit, describes the bank as “very vulnerable” due to its ongoing operating deficit and reliance on capital injections. Finanstilsynet also highlighted the bank’s high employee turnover, including key personnel, which increases the risk of losing knowledge and insight, as well as process and control failures. Lunar Bank, founded in 2015, aims to be profitable by 2026.

Nykredit Launches European Defense Fund

Nykredit, managed by Sparinvest, has introduced a new defense fund that will exclusively invest in European arms manufacturers, deliberately excluding American defense stocks. The fund aims to provide European manufacturers with improved access to capital, thereby strengthening Europe’s defense industry. According to Nykredit’s Investment Director, Ralf Magnussen, this initiative is crucial for Europe to stand on its own in defense matters. Sparinvest’s Director, Jørgen Søgaard-Andersen, noted the significant resources being allocated to the defense industry and anticipates strong demand for the fund from both professional and private investors upon its stock exchange listing.

Trump’s Tariff Threats Impact Ørsted

Potential doubled tariffs on steel and aluminum by former US President Donald Trump could result in a billion-dollar expense for the energy giant Ørsted. The increased tariffs, potentially reaching 50 percent, could lead to a write-down of approximately 1.2 billion kroner for Ørsted, which is currently developing two offshore wind projects off the US East Coast. The existing tariffs on steel and aluminum have already caused write-downs of 1.2 billion kroner on the Sunrise Wind and Revolution Wind projects, as reported in the company’s first-quarter financial statement.