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Danske Bank
Danske Bank A/S (pronounced [ˈtænˀskə ˈpɑŋˀk], lit. 'Danish Bank') is a Danish multinational banking and financial services corporation. Headquartered in Copenhagen, it is the largest bank in Denmark and a major retail bank in the northern European region with over 5 million retail customers.
As of 2020, Danske Bank's largest shareholder with 21% of the share capital was A.P. Moller Holding, the investment holding company of the Maersk family.
Danske was founded 5 October 1871 as Den Danske Landmandsbank, Hypothek- og Vexelbank i Kjøbenhavn ("The Danish Farmers' Bank, Mortgage and Exchange Bank of Copenhagen"), and was subsequently known as Landmandsbanken ("Farmers' Bank") for more than a century. In 1976, the bank changed name to Den Danske Bank ("The Danish Bank"), and the current shortened name was adopted in 2000.
Danske Bank was at the heart of what has been described as possibly the largest money laundering scandal in history when in 2017–2018 it was revealed that €800 billion of suspicious transactions had flowed through the Estonia-based bank branch of Danske Bank from 2007 to 2015. The bank was investigated by authorities in multiple countries. In 2022, Danske Bank pled guilty and agreed to a $2 billion fine in a case from the United States Department of Justice.
Danske Bank group operates a number of local banks around the Nordic region (Denmark, Norway, Sweden, and Finland) as well as in Northern Ireland. In Denmark, the major expansion occurred in 1990 after the merger with Kjøbenhavns Handelsbank and Provinsbanken. Most of the international operations were established by a series of acquisitions: of Östgöta Enskilda Bank in Sweden in 1997, of Fokus Bank in Norway in 1999, of Northern Bank in Northern Ireland in 2004, and of Sampo Bank in Finland, the Baltic countries, and Russia in 2007.
In February 2019, following the money laundering scandal at its Estonian branch, Danske Bank announced that it will cease all its banking activities in the Baltic countries and Russia.
Between 2007–2012, Sampo Bank was responsible for Danske Bank's operations in Finland after Danske Bank acquired Sampo Group's banking business while it retained its insurance business. Sampo Bank traced its origins back to 1887, to Postisäästöpankki (translated Postal Savings Bank), a bank associated with the national post office, which accepted deposits from the public at post offices. In 1970, the company was renamed Postipankki (Post Bank). In 1988, the bank became a full-service bank. It was organized as a state-owned limited company. In 1997, the company merged with Suomen Vientiluotto (Finnish Export Credit) to form Leonia Pankki. Leonia Pankki was merged with Sampo Group in 2000, and in 2001 was renamed Sampo Pankki. At the same year, Mandatum Bank merged with Sampo Group. Mandatum was created in 1998 by a merger of Interbank Osakepankki, established in 1988, and Mandatum & Co., established in 1992. On 15 November 2012, Sampo Bank was renamed Danske Bank after banking operations were uniformed under one brand. The purchase of Sampo Pankki by Danske Bank with just over €4 billion was the largest purchase in cash to date in Finland.
Danske Bank set up its own captive technology centre in Bangalore called Danske IT Services India Pvt Ltd. The centre was sold off to Infosys in 2023.
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Danske Bank
Danske Bank A/S (pronounced [ˈtænˀskə ˈpɑŋˀk], lit. 'Danish Bank') is a Danish multinational banking and financial services corporation. Headquartered in Copenhagen, it is the largest bank in Denmark and a major retail bank in the northern European region with over 5 million retail customers.
As of 2020, Danske Bank's largest shareholder with 21% of the share capital was A.P. Moller Holding, the investment holding company of the Maersk family.
Danske was founded 5 October 1871 as Den Danske Landmandsbank, Hypothek- og Vexelbank i Kjøbenhavn ("The Danish Farmers' Bank, Mortgage and Exchange Bank of Copenhagen"), and was subsequently known as Landmandsbanken ("Farmers' Bank") for more than a century. In 1976, the bank changed name to Den Danske Bank ("The Danish Bank"), and the current shortened name was adopted in 2000.
Danske Bank was at the heart of what has been described as possibly the largest money laundering scandal in history when in 2017–2018 it was revealed that €800 billion of suspicious transactions had flowed through the Estonia-based bank branch of Danske Bank from 2007 to 2015. The bank was investigated by authorities in multiple countries. In 2022, Danske Bank pled guilty and agreed to a $2 billion fine in a case from the United States Department of Justice.
Danske Bank group operates a number of local banks around the Nordic region (Denmark, Norway, Sweden, and Finland) as well as in Northern Ireland. In Denmark, the major expansion occurred in 1990 after the merger with Kjøbenhavns Handelsbank and Provinsbanken. Most of the international operations were established by a series of acquisitions: of Östgöta Enskilda Bank in Sweden in 1997, of Fokus Bank in Norway in 1999, of Northern Bank in Northern Ireland in 2004, and of Sampo Bank in Finland, the Baltic countries, and Russia in 2007.
In February 2019, following the money laundering scandal at its Estonian branch, Danske Bank announced that it will cease all its banking activities in the Baltic countries and Russia.
Between 2007–2012, Sampo Bank was responsible for Danske Bank's operations in Finland after Danske Bank acquired Sampo Group's banking business while it retained its insurance business. Sampo Bank traced its origins back to 1887, to Postisäästöpankki (translated Postal Savings Bank), a bank associated with the national post office, which accepted deposits from the public at post offices. In 1970, the company was renamed Postipankki (Post Bank). In 1988, the bank became a full-service bank. It was organized as a state-owned limited company. In 1997, the company merged with Suomen Vientiluotto (Finnish Export Credit) to form Leonia Pankki. Leonia Pankki was merged with Sampo Group in 2000, and in 2001 was renamed Sampo Pankki. At the same year, Mandatum Bank merged with Sampo Group. Mandatum was created in 1998 by a merger of Interbank Osakepankki, established in 1988, and Mandatum & Co., established in 1992. On 15 November 2012, Sampo Bank was renamed Danske Bank after banking operations were uniformed under one brand. The purchase of Sampo Pankki by Danske Bank with just over €4 billion was the largest purchase in cash to date in Finland.
Danske Bank set up its own captive technology centre in Bangalore called Danske IT Services India Pvt Ltd. The centre was sold off to Infosys in 2023.