Major banks closing down their branches

Abandoned buildings are being used by regional banks

The country's three largest banks – Danske Bank, Jyske Bank and Nordea – are shutting down many of their local divisions.

In fact, they have closed every tenth branch this year.

Clients prefer online services
According to Børsen, the number of major bank branches has almost halved in Denmark  since the turn of the millennium. 

One of the main reasons, say the banks, is customers' declining interest in personal service and increased demand for services over the Internet and mobile devices. 

Expert surprised by the pace
Nicholas Rhode, a banking expert from the consulting firm Niro Invest, is surprised at the speed the banks keep shutting down their local branches.

"It clearly shows that the big banks focus more and more on their central headquarters and that the internet is becoming more important to them," Rhode told Finans.

Smaller banks continue with personal services
Regional banks are, in contrast, taking over the abandoned bank branches and continue to provide personal services to local communities. 

Middelfart Sparekasse has, for instance, opened five new branches in the last one and half years and promises not to close its branches until 2018.





  • How internationals can benefit from joining trade unions

    How internationals can benefit from joining trade unions

    Being part of a trade union is a long-established norm for Danes. But many internationals do not join unions – instead enduring workers’ rights violations. Find out how joining a union could benefit you, and how to go about it.

  • Internationals in Denmark rarely join a trade union

    Internationals in Denmark rarely join a trade union

    Internationals are overrepresented in the lowest-paid fields of agriculture, transport, cleaning, hotels and restaurants, and construction – industries that classically lack collective agreements. A new analysis from the Workers’ Union’s Business Council suggests that internationals rarely join trade unions – but if they did, it would generate better industry standards.

  • Novo Nordisk overtakes LEGO as the most desirable future workplace amongst university students

    Novo Nordisk overtakes LEGO as the most desirable future workplace amongst university students

    The numbers are especially striking amongst the 3,477 business and economics students polled, of whom 31 percent elected Novo Nordisk as their favorite, compared with 20 percent last year.