The Group

Although the Group’s banking activities can be traced further back, the Danske Bank Group came into being, in legal terms, when it began to establish subsidiaries in the twentieth century and presented its first consolidated annual accounts in 1980. The Group began to look like the one we know today at the turn of the century when it developed new business areas. It is now one of the largest financial enterprises in the Nordic region and has a unique international banking concept.

1809 and 1873 – two important years
All of the Group’s banking, insurance and mortgage finance units, which are currently supported by its shared IT platform, were established as independent businesses in the nineteenth century – Northern Bank (1809) being the oldest and Handelsbanken (1873) the youngest.

1970-1980 – expansion in Denmark and internationally
By 1975, the Group saw little scope for further expansion in Denmark. But the expanding export markets provided opportunities internationally, and the Group developed a new strategy. The first sign of this strategy was the opening of Danske Bank International in Luxembourg in 1976. The international expansion accelerated in the following decades with the establishment of more branches and subsidiaries.

1990 – liberalisation and growth through mergers in Denmark
Three banks, Handelsbanken, Provinsbanken and Den Danske Bank, merged in 1990 under the name of Den Danske Bank as a result of the liberalisation of Danish banking legislation. Knud Sørensen was appointed chairman of the Executive Board. He held this position until 1998 when he was succeeded by Peter Straarup.

The integration of the three banks’ IT systems gave the Group a technological lead. It benefited from this position in the 1990s when IT operations were one of its major projects. The Group’s financial performance improved from the middle of the 1990s, and the price of its shares saw an upward trend.

1990s – new business areas
The Group also developed new business areas in the 1990s. The purchase of Danica Pension in 1995 made the Group one of the largest life insurance and pension providers in Denmark. The Group strengthened its position as a market leader considerably when it merged with RealDanmark (BG Bank and the mortgage provider Realkredit Danmark) on January 1, 2001.

1997-2005 – increased international expansion
The Group introduced a new strategic concept in 1997: the Nordic region as its home market. The Group had been doing business with companies in northern Europe for many years, so it established branches in Oslo, Stockholm and Helsinki. The Group then acquired Östgöta Enskilda Bank in Sweden in 1997 and stockbroking companies in Norway, Sweden and Finland in 1998. The Group’s purchase of Fokus Bank in Norway in 1999 also emphasised its Nordic strategy. Its international operations were further expanded in 2005 with the acquisition of National Irish Bank in the Republic of Ireland and Northern Bank in Northern Ireland.

2007 – Sampo Bank – Finland and the Baltic countries
The Group strengthened its position in the northern European markets again in 2007 with the purchase of Sampo Bank. The purchase included Sampo Pankki in Finland as well as Sampo bankas in Lithuania (now: Danske bankas), Sampo Banka in Latvia (now: Danske Banka) and Sampo Pank in Estonia.