The right bank man for the job?

The first problem incoming Danske Bank managing director Thomas Borgen will need to address is the bank’s declining number of depositors.

Twelve months ago, 29.4 percent of the Danish population considered Danske Bank to be their primary bank, according to a Voxmeter/Jyllands-Posten poll.

Today, it is 27.5 percent – or a loss of about 100,000 depositors.

Jesper Christensen, an analyst with Alm. Brand Markets, said many of the initiatives taken during outgoing managing director Eivind Kolding’s 18-month tenure had been necessary, but the unpopular moves drove away depositors. 

Erhverv & Økonomi

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This story was included in The Copenhagen Post's Morning Briefing for Tuesday, September 17. If you would like to receive stories like these delivered to your inbox by 8am each weekday, sign up for the Morning Briefing or one of our other newsletters today.