There are many signs that the Danske Bank Group’s reputation has improved greatly among the general public. At least according to Reputation Institute’s annual survey measuring the corporate reputation of the world’s largest companies.
The Danske Bank Group has climbed steply
For a couple of years the Danske Bank Group was rated close to the bottom among the largest Danish companies, however, this year the 3,000 respondents of the survey have given the Group a rating in the middle. Actually, Reputation Institute considers the Danske Bank Group’s material progress to be among the most impressive, if not the most impressive, jumps made ever by a Danish company in one year.
In 2007, the Danske Bank Group was rated at the bottom together with Skandinavisk Tobakskompagni, TDC, ISS, Arla and DSB.
One of the best companies with contact to retail customers
A characteristic of this survey is that industrial companies with no contact to retail customers and with a long history obtain the best scores for the seven parameters of the survey, among which products, management, ethics and responsibility are the most important. Therefore, Lego, Danfoss, Grundfoss, Vestas and Novo Nordisk more or less top the list every year.
“The improved score places us among the best companies with contact to retail customers. It is an important benchmark for us, because it is relevant to compare companies which customers meet “live” – and not just hear about,” says Jonas Torp, Head of Press Relations.
The seven parameters give a score called RepTrak, and in 2007 the Danske Bank Group was given a score of 56.48 on a 0-100 point scale, compared with 64.9 in 2008. By comparison, the companies topping the list have scores above 80 and those at the bottom have scores below 50.
The Danske Bank Group's reputation among the best globally
Compared with international companies, the Danske Bank Group has for many years shared the fate of other major banks in the western world, with rather poor scores. The exception is a couple of Dutch banks and banks in countries with rapidly growing economies, for instance Russia, China and Brazil, where large banks generally have a good reputation. With the new and greatly improved position obtained in 2008, the Danske Bank Group ranks among the banks with the best reputation in the world.