The lender has also improved its position in the Nordic region with the acquisition of Sampo Bank’s activities in the Baltic states. The deal provides a platform for further expansion in the region and gives Danske the third position among the largest foreign banks in the fast-growing Baltic states. The transaction will also achieve synergies in IT and within the shared services centre.
“We have made our largest acquisition ever to obtain a solid market position in Finland and gain a foothold in the Baltic markets,” says chief executive Peter Straarup. “In addition, we’ve merged our two bank brands in Denmark into an even stronger unit. And we’ve achieved economies of scale that allow us to offer our customers highly competitive rates and fees.
“For example, we’ve launched high-interest current accounts and no-fee accounts with international credit cards free of charge in Denmark. Outside Denmark, we offer our customers similar solutions. These elements combined to play a crucial role for our future growth prospects. Therefore, I’m delighted to receive this award in recognition of our efforts.”
FAROE ISLANDS: A special mention goes to Eik Banki as best bank in the Danish overseas jurisdiction of Faroe Islands. Eik Banki had a fantastic financial year, doubling its net profits and registering an RoE of almost 30%. “We are very grateful for this award,” says chief executive Marner Jacobsen. “It is an honour and inspiration to be recognised by the industry; an honour that we share with our employees, who make an effort every day to achieve the goals that we have set for the activities of Eik Banki. We are in a process of spreading our activites abroad. It is a process of strategic risk spreading, but also an opportunity to cross borders, exchange ideas and extend boundaries. We regard this prestigious award as confirmation of our work so far, which we intend to continue.”
