The Group’s activities in Finland and the Baltic countries started with the acquisition of Sampo Bank in 2006. At that time, Sampo Bank comprised Sampo Pankki in Finland, Sampo Banka in Latvia, Sampo bankas in Lithuania and Sampo Pank in Estonia. Today, Sampo Banka and Sampo bankas have changed their names to Danske Banka and Danske bankas, respectively.
1887 – Sampo Bank established
Sampo Bank was founded in 1887 by the Finnish state-owned Post and Savings Bank, which accepted deposits at its post offices. The assets of the Post and Savings Bank were initially invested in government bonds, but after the Second World War the banking function was gradually extended to include lending for housing construction and other activities.
1939-1988 – milestones along the wayOne milestone in the bank’s development was the introduction in 1939 of the first modern payment transfer system – the postal giro service. Another major step was taken in 1958, when the bank became Finland’s first company to adopt computer technology, introducing what was then called IBM’s “electronic brain”.
In 1970, the Post and Savings Bank was reconstituted as the Post Bank. Eighteen years later its legal status was changed from that of a public corporation to a state-owned limited liability company which was able to offer a full range of banking services just like the commercial banks.
2000 – merger with Leonia Group
In 1997 Postipankki Oyj and Finnish Export Credit Ltd merged under the name of the Leonia Group. Two years later, the Finnish government and the owners of Sampo Insurance Company plc decided to merge Leonia and Sampo to form Finland’s first full-service financial group. The merger took place on the last day of 2000.
2001 – Sampo acquires Mandatum Bank
In February 2001, the Group acquired Mandatum Bank, which had been formed in 1998 after a merger between Interbank Osakepankki and Mandatum & Co. Mandatum was the leading Nordic M&A advisor and had consolidated its stockbroking expertise by acquiring Protos Stockbrokers Ltd in 1998. The two operations were then combined and renamed Mandatum Stockbrokers. Mandatum Bank specialised in wealth management.
After the merger of Sampo and Mandatum, Sampo Bank specialised in long-term savings and became Finland’s leading player in the area. Mandatum continued with its original strategy of becoming Finland’s best private bank.
2000–2006 – growth in Estonia, Latvia and Lithuania
In 2006, Sampo Bank expanded its operations to cover Finland, Estonia (AS Sampo Pank), Latvia (Sampo Banka AS) and Lithuania (UAB Sampo bankas). Banking operations in Estonia began after the acquisition of Optiva Bank in 2000. In Lithuania, operations started with the purchase of the entire share capital of Lietuvos Vystomo Bankas. In Latvia, Sampo acquired Maras Banka in 2004.
2006–2007 – part of the Danske Bank Group
In November 2006, Sampo was acquired by the Danske Bank Group, with the official permits being granted in January 2007. The transaction included the Finnish Sampo Bank plc and its subsidiary banks in the Baltic countries and Russia, as well as the various investment companies (Mandatum Asset Management Ltd., Sampo Fund Management Ltd., Mandatum & Co Ltd. and Mandatum Stockbrokers Ltd.).
2008 – Baltic re-branding
In 2008 Sampo bankas in Lithuania has changed its name to Danske bankas and adopted the Group’s blue-white design. Sampo Pank in Estonia has also adopted the Group’s design but kept its name, which is a well-established brand in Estonia. Sampo Banka in Latvia changed its name to Danske Banka and adopted the new design.