Science Fair Project Encyclopedia
Danske Bank
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. Since the mid 1990s it has been expanding its operations into the rest of Scandinavia and Finland. It is now the largest financial services company in the Nordic region. The reasons for this expansion are rooted in the increasing deregulation and internationalization of the banking sector. In order to survive, the leadership of the group felt that the company had to move beyond Denmark in order to grow.
The Group has undergone several mergers, with Handelsbanken and Provinsbanken in 1990, Danika in 1995 (renamed Danika Pension in 1999, BG Bank and Realkredit Danmark in 2001. 2005 saw the acquisition of Northern Bank in Northern Ireland and National Irish Bank in the Republic of Ireland from the National Australia Bank growing for the first time outside of Skandinavia.
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