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Overview of Banks in Denmark
As per the last report in 2017, it was found that there are total 108 banks in Denmark. Denmark’s banking system is quite large. Can you imagine that the banking sector in Denmark is almost three times bigger than the national economy? If you pay heed to the ratio, you would see that the ratio between Denmark’s banking sector and the national economy is 3.2852:1.
Out of these 108 banks, most are domestic banks, around 79. But there are also few foreign banks, i.e. 29. These 29 foreign banks also include 15 subsidiaries and branches of Swedish banks.
Structure of Banks in Denmark
If we look at concentration of market share, we would see that 3 largest banks acquired more than 50% of total banking assets. These 3 banks are –
- Danske Bank
- Nykredit Realkredit
- Realkredit Danmark
In Denmark, there is a system of banking called “systematic banks”. Important banks are systematically identified each year based on few criteria –
- The lending of the bank has to be more than 5% of the total sector lending.
- The balance sheet of the bank should be more than 6.5% of the total GDP.
- The deposits of the bank should be more than 5% of total sector deposits.
To be called a “systematic” bank, every bank should adhere to one of the above criteria at least for the two consecutive years.
Currently in Denmark, there are four systematic banks –
- Danske Bank
- Nykredit Bank
- Jyske Bank
Top 11 Banks in Denmark
Let’s look at the largest top banks in Denmark as per the total assets acquired in DKK millions –
#1. Danske Bank A/S:
This is the largest commercial bank in Denmark. Danske Bank A/S has secured the top most position in ranking by total assets acquired. The total assets acquired by this bank as per the last report in 2016 were DKK 2168239.00 million. The head-quarter of Danske Bank A/S is in Kobenhavn K. It has a market share of 28.67% which the largest by any bank in Denmark. The last reported net income of Danske Bank was DKK 19580.53 million.
#2. Nykredit Realkredit A/S:
This is the second largest top bank in Denmark in terms of total assets acquired. This bank is the largest mortgage bank in Denmark. The head-quarter of this bank is in Kobenhavn V. The total assets acquired by this bank as per the last report in 2016 were DKK 1305554.19 million. Its market share is also quite high, around 17.26% in 2016. The last reported net income of Nykredit Realkredit was DKK 5660.40 million.
#3. Realkredit Danmark A/S:
This is the third largest top bank in Denmark in terms of total assets acquired. This bank is the second largest bank in Denmark as well. As per the last report of 2016, Realkedit Danmark A/S has acquired total assets of DKK 862705.08 million. Its head-quarter is in Kobenhavn O. The market share is also quite high (only lower than the Danske Bank & Nykredit Realkredit), around 11.41%. The net income of Realkredit Danmark in 2016 was DKK 4180.67 million.
#4. TOTALKREDIT A/S:
This is the fourth largest bank in Denmark in terms of total assets acquired. This is also the third largest mortgage bank in Denmark. The head-quarter of TOTALKREDIT A/S is situated in Taastrup. TOTALKREDIT A/S has acquired total assets of DKK 690526.97 million. Again, this bank has secured a market share of just under 10, i.e. 9.13%. The net income of this bank in the year 2016 was DKK 2048.50 million.
#5. Nordea Bank Danmark A/S:
Even if this bank is the fifth largest top bank in Denmark in terms of total assets acquired, this bank as closed down already. This was the second largest commercial bank of Denmark. And it had the total assets of DKK 478815.11 million. Its country of origin is Sweden. It secured a market share of 6.33% and its net income in 2016 was DKK 4341.42 million.
#6. Nordea Kredit Realkreditaktieselskab:
This is the sixth largest top bank in Denmark in terms of total assets acquired. If we remove Nordea Bank Danmark from the list, we can call this bank as fifth largest bank. This bank is also one of the biggest mortgage banks in Denmark. Its country of origin is Sweden. The total assets acquired by this bank in the year 2016 were DKK 437012.07 million. It has secured a market share of 5.78%. The net income of Nordea Kredit Realkreditaktieselskab was DKK 1678.78 million.
#7. Jyske Bank:
This is the seventh (or sixth if we remove the recently closed bank) largest bank in Denmark in terms of total assets acquired. Since Nordea Bank Danmark has closed down, this bank is the second largest commercial bank in Denmark as of now. The head-quarter of Jyske Bank is situated in Silkeborg. The total assets acquired by Jyske Bank in 2016 were DKK 318451.86 million. The market share of this bank is 4.21%. The net income of Jyske Bank in the year 2016 was DKK 3116.15 million.
#8. BRFKredit A/S:
BRFKredit A/S has taken the eighth spot (or seventh if we remove the recently closed bank) in terms of total assets acquired. The total assets acquired by this bank in the year 2016 were DKK 307027.22 million. This is also one of largest mortgage banks in Denmark. It is head-quartered in Kongens Lyngby. The net income of this bank in the year 2016 was DKK 1015.46 million. BRFKredit A/S has secured a market share of 4.06%
#9. Nykredit Bank:
This is one of the largest commercial banks in Denmark and in terms of total assets acquired, this banks ranks ninth (or eighth, if we would remove the close bank). The head-quarter of Nykredit Bank is in Kobenhavn V. The total assets acquired by this bank in 2016 were DKK 193977.53 million. The net income of this bank in 2016 was DKK 626.49 million. It has secured the market share of 2.57%.
#10. DLR Kredit A/S:
This is the tenth (or ninth if we remove the recently closed bank) largest bank in Denmark in terms of total assets acquired. This is also one of the biggest mortgage banks in Denmark. DLR Kredit A/S is head-quartered in Kobenhavn V. The total assets acquired by DLR Kredit A/S in the year 2016 were DKK 155737.27 million. The net income of this bank in the year 2016 was DKK 810.84 million. The market share of DLR Kredit A/S is 2.06%.
This is the eleventh bank in terms of total assets acquired, but it stands on tenth if we remove the Nordea Bank Danmark A/S. This is also one of the largest commercial banks in Denmark. It is also one of the current systematic banks in Denmark. The total assets acquired by this bank in 2016 were DKK 148949.44 million. The head-quarter of Sydbank is situated in Aabenraa. Market share of Sydbank is 1.97%. And the net income of Sydbank is DKK 1471.62 million in the year 2016.
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