In 2007, Danske Bank decided to invest Dkr1bn ($172m) over the next two years in platform upgrading. This investment forms the basis for the new and ambitious financial targets set out for 2012. These objectives are to boost income to more than Dkr55bn with a cost-income ratio of less than 45%, while achieving an 8% minimum average increase in net profit per share.
In the past two years, through acquisitions in Ireland, Northern Ireland, Finland and the Baltic states, Danske Bank has become a well positioned and competitive regional bank in selected northern European markets. Danske Bank Group has completed its acquisition of Finland’s Sampo Bank, while this acquisition and the Danske-BG merger have given the group a full Nordic presence, as well as millions of kroner in synergies and further potential for cost efficiency. The Danske Bank Group now serves 5.1 million customers at its 825 branches in northern Europe.
“We wanted to lead the way and be the first bank in Denmark to offer banking solutions with no fees to our retail customers,” says Henrik Normann, head of Danske Bank Denmark. “We focus on speeding up product development, increasing process efficiency and improving customer experience at all our units.”
