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Danske Bank

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Danske Bank A/S
Company typePublic (Nasdaq Copenhagen: DANSKE)
ISINDK0010274414 Edit this on Wikidata
IndustryFinancial services
Founded1871
HeadquartersCopenhagen, Denmark
Key people
Alf Duch-Pedersen (Chairman of the board), Peter Straarup (CEO)
ProductsBanking, insurance, investment management
RevenueDKK 43,043 million (2008)[1]
Increase DKK 1,036 million (2008)[1]
Total assetsDKK 3,544 billion (2008)[1]
Number of employees
23,620 (2008)[1]
SubsidiariesFokus, National Irish Bank, Northern Bank, Sampo, Östgöta Enskilda
Websitewww.danskebank.com
Danske Bank building at Kongens Nytorv in Copenhagen.

Danske Bank is a Danish bank. It was founded 5 october 1871 as Den Danske Landmandsbank, Hypothek- og Vexelbank i Kjøbenhavn (The Danish Farmers' Bank, Mortgage and Exchange Bank of Copenhagen).

Danske Bank has long been one of the largest banks in Denmark, roughly 30 percent market share, but after the acquisition of BG Bank now hold over 51 percent. Since the mid-1990s it has been expanding its operations outside of the country. In Norway it's known as Fokus Bank and in Sweden under a variety of brand names, including Östgöta Enskilda Bank. The reasons for this expansion are rooted in the increasing deregulation and internationalization of the banking sector.

The Group was created out of several mergers, the first in 1990 with rivals Handelsbanken (not affiliated with present day Handelsbanken) and Provinsbanken. That was followed by the acquisition of Danica in 1995 (renamed Danica Pension) in 1999, and a merger with BG Bank and Realkredit Danmark in 2001. 2005 saw the purchase of Northern Bank in Northern Ireland and National Irish Bank in the Republic of Ireland from the National Australia Bank, the Group's first retail operations outside Scandinavia. In 2006, Danske Bank bought the banking operations of the Finnish financial services group Sampo, which included retail banks in Finland, Latvia, Lithuania and Estonia, along with a corporate entity in Russia. The Group also maintains corporate service branches in Hamburg, Poland and London, and an outpost serving high net worth clients in Luxembourg.

Danske runs all of its operations on a single IT platform, a competitive advantage since customers can quickly transfer money between a number of countries with minimal fees.

Danske Bank was number 236 on the Fortune Global 500 list for 2009, up from 238 in 2008. [2].

Local Operations

The Danske Bank group operates a number of local banks around the Nordic Region as well as in Northern Ireland and the Republic of Ireland, Outlined below are countries where the Danske Bank group runs retail operations [3]

References

  1. ^ a b c d "Annual Report 2008" (PDF). Danske Bank. Retrieved 2009-03-10.
  2. ^ "Fortune Global 500 (Denmark)". Fortune. 2009. Retrieved 2009-07-13.
  3. ^ http://www.danskebank.com/en-uk/ir/the-group/mergers-and-acquisitions/Sampo-Bank-acquisition/Pages/IRSampoCombinedentity.aspx | Danske Bank presentation of Sampo acquisition
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