Mergers & acquisitions

The Danske Bank Group adjusts its business activities on an ongoing basis as opportunities that offer satisfactory profitability present themselves.

The table below shows the most significant transactions since 1990:

Year	M&As	Divestments
2006	Sampo Bank
2005		HandelsFinans
2004	Northern Bank National Irish Bank	Intl. wholesale: UK Intl. wholesale: US
2002		Danske Securities
2001		Hong Kong Branch Singapore Branch BG Garanti BG Factoring
2000	RealDanmark (BG Bank and Realkredit Danmark)	Forenede Factors BG International Lux.
1999	Fokus Bank	General insurance
1997	Östgöta Enskilda Bank
1995	Danica Pension
1990	Handelsbanken Provinsbanken

Mergers and acquisitions
Danske Bank A/S was founded in 1871 and has merged with various other financial institutions through the years. In 1990, the Bank merged with Kjøbenhavns Handelsbank (Handelsbanken), founded in 1873, and Provinsbanken A/S, founded in 1846.

In 1995, the Bank acquired Danica in connection with the restructuring of Baltica. Baltica had acquired Statsanstalten in 1990 and renamed it Danica.

In 2000, RealDanmark A/S became part of the Danske Bank Group. RealDanmark A/S was the parent company of Realkredit Danmark A/S, a mortgage finance institution founded in 1851, and BG Bank A/S, a retail bank with roots going back to 1857.

Strengthened position in the Nordic region and the Baltic States
The Danske Bank Group has also repeatedly strengthened its presence in the Nordic region through acquisitions. The Bank acquired Östgöta Enskilda Bank, Sweden, in 1997, and Fokus Bank, Norway, in 1999. We have made smaller acquisitions in the investment management field as well.

In 2006 the Group expanded further through the acquisition of Sampo Bank, the third-largest bank in Finland. The acquisition also included activities in Estonia, Lithuania, Latvia as well as a branch in Russia. The acquisition was completed the February 1, 2007.

Strengthened position in northern Europe
In December 2004, Danske Bank signed an agreement with National Australia Bank to purchase Northern Bank (www.northernbank.co.uk) in Northern Ireland and National Irish Bank (www.nationalirishbank.ie) in the Republic of Ireland. The deal was completed on February 28, 2005.

Divestments
At the same time that we expand the scope of our business activities, we adjust our existing activities on an ongoing basis. In recent years we have reduced certain activities because they no longer fit into the Group’s core business or did not create sufficient value. We thus strive to adjust our activities to current conditions and developments.


Last updated on June 30, 2008