Denmark’s central bank has taken control of the country’s eighth largest retail lender to avert a systemic financial crisis – the first such move for 15 years.

Nationalbanken and about 100 Danish financial companies are injecting DKr4.5bn ($896m, €607m, £483m) cash into Roskilde Bank and assuming DKr37.3bn of debt after its portfolio of property-related loans went bad.