Handelsbanken

In 1990, Handelsbanken joined the Group as a result of the merger between Handelsbanken, Provinsbanken and Den Danske Bank. The history of the three banks dates back to the nineteenth century; Handelsbanken’s goes back to 1873.

1857–1866 – Privatbanken founded, Adler quits Privatbanken
Handelsbanken was founded in the nineteenth century by the merchant D.B. Adler, but C.F. Tietgen also played a part in the creation of the bank. Adler had been one of the co-founders of Privatbanken, the first large private bank in Denmark, established in 1857. However, relations between Adler and Tietgen cooled in the years that followed.

The strained relationship between the two continued and, following a series of personal and bank-related disagreements in the 1860s, Adler finally left Privatbanken. His resignation was announced at the Annual General Meeting on March 21, 1866. However, Adler was already planning the launch of a new large bank, Handelsbanken.

1873-1889 – Handelsbanken incorporated
On April 18, 1873, Aktieselskabet Kjøbenhavns Handelsbank opened for business in leased premises. In 1889, the bank's head office moved into the famous Erichsen Mansion on the busy Kongens Nytorv square. One of the reasons was to provide staff with better working conditions. The board of directors and management of the new bank were well known and respected men, which meant that the bank was well received. Also, times were good, with a growing population and considerable industrial expansion. 

1920 – special circumstances in South Jutland
The post-war settlement which returned territory in Schleswig to Denmark in 1920 marked a special chapter in Handelbanken’s history when the bank took over the German Schleswig-Holsteinische Bank's branches in the region. However, this positive development was followed by the post-war depression.

1930-1969 – unfounded rumours and subsequent growth
The crisis in Germany and Britain rumbled on for many years and unfounded rumours of bad loans were rife in 1931. Customers withdrew so much cash from the bank that it had to request a liquidity guarantee from the Danish central bank. Danmarks Nationalbank issued the guarantee, along with a statement of confidence in the Bank’s health, and after a few days calm returned to Handelsbanken.

The period through the 1950s saw growth and competition with Den Danske Bank, Privatbanken and other banks. The 1960s were marked by a rationalisation of the banking sector with many small mergers, and by international awareness and increased use of IT. The first moves towards liberalisation were important for the development of Handelsbanken, Provinsbanken and Den Danske Bank.

1990 – part of the Danske Bank Group
Liberalisation of the banking sector led indirectly to the merger between Handelsbanken, Den Danske Bank and Provinsbanken in 1990, with Den Danske Bank as the continuing bank in the Danske Bank Group.