Danske Bank

Danske Bank A/S

Type	Publicly traded Aktieselskab (OMX: DANSKE)
Industry	Financial services
Founded	1871
Headquarters	Copenhagen, Denmark
Key people	Eivind Kolding (Chairman), Peter Straarup (CEO)
Products	Banking, insurance, investment management
Revenue	DKK 46.28 billion (2010)[1]
Profit	DKK 3.661 billion (2010)[1]
Total assets	DKK 3.214 trillion (end 2010)[1]
Total equity	DKK 104.74 billion (end 2010)[1]
Employees	21,520 (FTE, end 2010)[1]
Subsidiaries	Fokus, National Irish Bank, Northern Bank, Sampo, Östgöta Enskilda
Website	www.danskebank.com

Danske Bank's headquarters in Kongens Nytorv in Copenhagen.

Danske Bank is a Danish bank. 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 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]

Danske Bank Branches: 592 Employees: 14,000 Customers: ? Market Position: 1 Market Share: 50.1% Fokus Bank Branches: 55 Employees: 1100 Customers: 225,000 Market Position: 4 Market Share: 5% (retail) 8% (corporate) Östgöta Enskilda Bank 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 Branches: 125 Employees: 3475 Customers: 1.2 mio Market Position: 3 private- & 2 corporate customers Market Share: 15% private- & 20% corporate business

Sampo Bank 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 Branches: 28 Employees: 720 Customers:167,000 Market Position: 5 Market Share: 4% Northern Bank Branches: 82 Employees: 1845 Customers: 415.000 Market Position: 1-2 (in Northern Ireland) Market Share: 20% (in Northern Ireland)

References

1. ^ ^{a b c d e} "Annual Results 2010". Danske Bank. http://www.danskebank.com/en-uk/ir/Documents/2010/Q4/Companyannouncement-2010.pdf. Retrieved 10 February 2011. 
2. ^ "Fortune Global 500 (Denmark)". Fortune. 2009. http://money.cnn.com/magazines/fortune/global500/2009/countries/Denmark.html. 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

External links

• Official website
• Yahoo Finance