Danske Bank
Encyclopedia
Danske Bank is a Danish
Denmark
Denmark is a Scandinavian country in Northern Europe. The countries of Denmark and Greenland, as well as the Faroe Islands, constitute the Kingdom of Denmark . It is the southernmost of the Nordic countries, southwest of Sweden and south of Norway, and bordered to the south by Germany. Denmark...

 bank
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...

. The name literally means "Danish Bank" It was founded 5 October 1871 as Den Danske Landmandsbank, Hypothek- og Vexelbank i Kjøbenhavn (The Danish Farmers' Bank, Mortgage
Mortgage loan
A mortgage loan is a loan secured by real property through the use of a mortgage note which evidences the existence of the loan and the encumbrance of that realty through the granting of a mortgage which secures the loan...

 and Exchange
Foreign exchange market
The foreign exchange market is a global, worldwide decentralized financial market for trading currencies. Financial centers around the world function as anchors of trading between a wide range of different types of buyers and sellers around the clock, with the exception of weekends...

 Bank of Copenhagen
Copenhagen
Copenhagen is the capital and largest city of Denmark, with an urban population of 1,199,224 and a metropolitan population of 1,930,260 . With the completion of the transnational Øresund Bridge in 2000, Copenhagen has become the centre of the increasingly integrating Øresund Region...

).

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
Norway
Norway , officially the Kingdom of Norway, is a Nordic unitary constitutional monarchy whose territory comprises the western portion of the Scandinavian Peninsula, Jan Mayen, and the Arctic archipelago of Svalbard and Bouvet Island. Norway has a total area of and a population of about 4.9 million...

 it's known as Fokus Bank
Fokus Bank
Fokus Bank is a brand name for Danske Bank's Norwegian operation. Danske Bank has long been one of the largest banks in Scandinavia.Fokus Bank has 41 local branches spread around all of Norway. The main office is in Trondheim and the bank employs approximately 1,000 workers...

 and in Sweden under a variety of brand names, including Östgöta Enskilda Bank
Östgöta Enskilda Bank
Östgöta Enskilda Bank is a mid size Swedish bank, owned by Danske Bank.- Provincial Banks :The banking license is held by Östgöta Enskilda Bank, but it uses different brand names in various parts of the country, typically named after the historical Provinces or Counties of Sweden.*Bohusbanken...

. The reasons for this expansion are rooted in the increasing deregulation
Deregulation
Deregulation is the removal or simplification of government rules and regulations that constrain the operation of market forces.Deregulation is the removal or simplification of government rules and regulations that constrain the operation of market forces.Deregulation is the removal or...

 and internationalization
Internationalization
In economics, internationalization has been viewed as a process of increasing involvement of enterprises in international markets, although there is no agreed definition of internationalization or international entrepreneurship...

 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
Handelsbanken
Svenska Handelsbanken AB is a Swedish bank.-History of Svenska Handelsbanken:The history of Svenska Handelsbanken goes back to 1871 when a number of prominent companies and individuals in Stockholm's business world founded Stockholms Handelsbank...

) and Provinsbanken
Provinsbanken
Provinsbanken was Denmark's fifth-largest bank in 1990 when it merged with Den Danske Bank and Handelsbanken . Provinsbanken dates back to 1846, when Fyens Disconto Kasse was established by a group of Odense merchants under the leadership of Lorentz Bierfreund. It was the country's first private...

. That was followed by the acquisition of Danica
Danica
Danica may refer to:* Denmark, whose Latin name is "Danica"* Danica , a personification of the Morning Star in Slavic mythology* Danica , people with the given name 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
Northern Bank
Northern Bank , is a commercial bank in Northern Ireland. It is one of the oldest banks in Ireland having been formed in 1809. Northern Bank is considered one of the leading retail banks in Northern Ireland with 82 branches and four finance centres...

 in Northern Ireland
Northern Ireland
Northern Ireland is one of the four countries of the United Kingdom. Situated in the north-east of the island of Ireland, it shares a border with the Republic of Ireland to the south and west...

 and National Irish Bank
National Irish Bank
National Irish Bank is a commercial bank in Ireland, one of the traditional Big Four. In December 2004 Danske Bank agreed to purchase National Irish Bank from the National Australia Bank for GB£967m ....

 in the Republic of Ireland
Republic of Ireland
Ireland , described as the Republic of Ireland , is a sovereign state in Europe occupying approximately five-sixths of the island of the same name. Its capital is Dublin. Ireland, which had a population of 4.58 million in 2011, is a constitutional republic governed as a parliamentary democracy,...

 from the National Australia Bank
National Australia Bank
National Australia Bank is one of the four largest financial institutions in Australia in terms of market capitalisation and customers. NAB is ranked 17th largest bank in the world measured by market capitalisation...

, 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
Fortune Global 500
The Fortune Global 500 is a ranking of the top 500 corporations worldwide as measured by revenue. The list is compiled and published annually by Fortune magazine....

 list for 2009, up from 238 in 2008.

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
  Danske Bank
  • Branches: 592
  • Employees: 14,000
  • Customers: ?
  • Market Position: 1
  • Market Share: 50.1%


  Fokus Bank
Fokus Bank
Fokus Bank is a brand name for Danske Bank's Norwegian operation. Danske Bank has long been one of the largest banks in Scandinavia.Fokus Bank has 41 local branches spread around all of Norway. The main office is in Trondheim and the bank employs approximately 1,000 workers...

  • Branches: 55
  • Employees: 1100
  • Customers: 225,000
  • Market Position: 4
  • Market Share: 5% (retail) 8% (corporate)


  Östgöta Enskilda Bank
Östgöta Enskilda Bank
Östgöta Enskilda Bank is a mid size Swedish bank, owned by Danske Bank.- Provincial Banks :The banking license is held by Östgöta Enskilda Bank, but it uses different brand names in various parts of the country, typically named after the historical Provinces or Counties of Sweden.*Bohusbanken...


Trading as:
  • Östgöta Enskilda Bank
  • Bohusbanken
  • Gävleborgs Provinsbank
  • Hallands Provinsbank
  • Närkes Provinsbank
  • Skånes Provinsbank
  • Smålandsbanken
  • Sundsvallsbanken
  • Sörmlands Provinsbank
  • Upplandsbanken
  • Värmlands Provinsbank
  • Västmanlands Provinsbank
  • Älvsborgs Provinsbank

  • Branches: 58
  • Employees: 1200
  • Customers: ?
  • Market Position: 5
  • Market Share: 7%


  Sampo Bank
Sampo Bank
Sampo Bank is a brand name for Danske Bank's Finnish and Estonian operations. Sampo Bank was acquired by the Danske Bank Group in 2007.-History:...

  • Branches: 125
  • Employees: 3475
  • Customers: 1.2 mio
  • Market Position: 3 private- & 2 corporate customers
  • Market Share: 15% private- & 20% corporate business

  Sampo Bank
Sampo Bank
Sampo Bank is a brand name for Danske Bank's Finnish and Estonian operations. Sampo Bank was acquired by the Danske Bank Group in 2007.-History:...

  • Branches: 17
  • Employees: 593
  • Customers: 141,000
  • Market Position: 3
  • Market Share: 9%


  Danske Banka
  • Branches: 4
  • Employees: 120
  • Customers: 5,600
  • Market Position: 14
  • Market Share: N/A


  Danske Bankas
  • Branches: 17
  • Employees: 433
  • Customers: 85,560
  • Market Position: 4
  • Market Share: 7.1%


  National Irish Bank
National Irish Bank
National Irish Bank is a commercial bank in Ireland, one of the traditional Big Four. In December 2004 Danske Bank agreed to purchase National Irish Bank from the National Australia Bank for GB£967m ....

  • Branches: 28
  • Employees: 720
  • Customers:167,000
  • Market Position: 5
  • Market Share: 4%


  Northern Bank
Northern Bank
Northern Bank , is a commercial bank in Northern Ireland. It is one of the oldest banks in Ireland having been formed in 1809. Northern Bank is considered one of the leading retail banks in Northern Ireland with 82 branches and four finance centres...

  • Branches: 82
  • Employees: 1845
  • Customers: 415.000
  • Market Position: 1-2 (in Northern Ireland)
  • Market Share: 20% (in Northern Ireland)

External links

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