The financial crisis has demonstrated that a strong financial infrastructure is important for society as a whole. Banks are essential to the economy because they facilitate access to capital, investment, payments and other transactions.
Since 2007, we have addressed the broader aspects of our value creation in what we define as our economic footprint. Our various interactions with stakeholders and the communities where we operate create mutual value. This value can take the form of the sound advice that we give our customers, the knowledge that our employees bring to work, or the skills we help build in our financial literacy programme. The economic stakeholder model shows these interactions and how mutual value is created:
Shareholders
Shareholders provide risk capital for the Group to develop its business and are rewarded through dividends and capital appreciation. Because of our participation in the Danish state guarantee scheme, however, the Group may not pay dividends or repurchase shares for a period of two years. Therefore, no dividends will be paid to shareholders in 2010.
Customers
Financial services are vital to our customers’ ability to add value to their businesses and plan their private lives. By developing new products and services, the Group provides customers with financial possibilities and advice to enhance their way of living and gives them the opportunity to pursue their goals. In 2010, the Danske Bank Group had 5.0 million customers and generated DKr46,277 million in income.
Suppliers
The Danske Bank Group has close, long-term partnerships with its main suppliers. Supplier engagement includes a focus on environmental and social standards. The Group's payments to suppliers in 2010 amounted to DKr12,300 million.
Employees
The knowledge and productivity of our more than 21,000 employees are essential to the Group’s value creation. In 2010, employees received DKr12,000 million in salaries (including pensions and social benefits). In addition, the Group’s investment in training and education benefits the employees and ensures their employability.
Governments
In 2010, the Group’s corporation taxes amounted to DKr 3,9 million. Governments also benefited indirectly from the personal taxes of DKr3,870 million paid by Group employees, taxes paid on the financial returns generated for customers and corporation taxes levied on suppliers.
Communities
The Danske Bank Group is present in hundreds of local communities through its branches. The aim of the Group is to be the best local financial partner, and therefore community involvement and understanding of local conditions are key elements in the way we do business. The Group contributed DKr21 million in donations in 2010.
Last updated February 10, 2011