Jyske Bank

Jyske Bank A/S is the third largest Danish bank in terms of market share.

Jyske Bank A/S
Aktieselskab
Traded asNasdaq Copenhagen: JYSK
ISINDK0010307958 
IndustryFinancial services
Founded1967
HeadquartersSilkeborg, Denmark
Key people
Sven Buhrkall (Chairman), Anders Dam (CEO)
ProductsRetail, private and business banking, factoring
RevenueDKK 6.067 billion (2010)[1]
DKK 757.2 million (2010)[1]
Total assetsDKK 244.1 billion (end 2010)[1]
Total equityDKK 13.35 billion (end 2010)[1]
Number of employees
3,850 (FTE, end 2010)[1]
Websitejyskebank.com/en

The headquarters are located in Silkeborg, and the bank has offices, branches, or subsidiaries in Denmark, Germany, and Gibraltar. It is the second-largest bank to be listed on the Copenhagen Stock Exchange, and it is the largest bank in Denmark headquartered outside Copenhagen.[2]

The current CEO of Jyske Bank is Anders Dam. The bank employs some 3700 individuals.

History

Jyske Bank is the result of the merger in 1967 of four banks from the mid-Jutland area: Silkeborg Bank, Kjellerup Bank, Kjellerup Handels- og Landbobank, and the Handels- og Landbrugsbank in Silkeborg. These banks trace their roots back to the mid-19th Century.

  • 1968 - Jyske Bank acquired Banken for Brædstrup og Omegn.
  • 1970 - Jyske Bank acquired Samsø Bank.
  • 1970 - Jyske Bank acquired Odder Landbobank.
  • 1981 - Jyske Bank acquired Copenhagen-based Finansbanken, giving it national coverage.
  • 1983 - Jyske Bank acquired Vendelbobanken.
  • 1989 - Jyske Bank acquired Holstebro Bank.
  • 2011 - Jyske Bank acquired most of Fjordbank Mors.
  • 2013 - Jyske Bank acquired Spar Lolland201
  • 2014 - Jyske Bank acquired BRFkredit A/S

International operations
Jyske Bank, Frederikssund.
  • 1981 - With its merger with Finansbanken, Jyske Bank acquired the subsidiary in Zürich, Switzerland, that Finansbanken had established in 1970 under the name Finanz- und Investmentbank. This is the oldest Scandinavian-owned subsidiary in Switzerland. In 1985 the subsidiary's name became Jyske Bank (Schweiz).
  • 1983 - Jyske Bank established an office in London and three years later upgraded it to a branch.
  • 1984 - Jyske Bank established a representative office of Jyske Bank Private Banking in Fuengirola on the Spanish Costa del Sol.
  • 1987
  • Jyske Bank acquired Banco Galliano (est. 1855), a family-owned bank and the oldest bank in Gibraltar.
  • Jyske Bank acquired Hamburger Handelsbank (est. 1921), giving it a branch in Hamburg.
  • 1988 - Jyske Bank converted its representative office in Spain into a subsidiary that it later converted back to a representative office.
  • 2002 - Jyske bank formed a strategic alliance with Nykredit to become a major actor in the Danish finance industry.
  • 2003 - Jyske Bank established representative office for Jyske Bank Private Banking in Cannes, on the French Côte d'Azur.
  • 2004
  • Jyske Bank established a representative office in Poland to conduct private banking.
  • Jyske Bank acquired 60% of Berben's Effectenkantoor in Echt, Netherlands.
  • 2007 - Jyske Bank Private Banking closed the offices in Warsaw and Fuengirola.
  • 2008 - Jyske Bank closed its branch in London.
  • 2014 - Jyske Bank sells Berben's Effectenkantoor
  • 2015 - Jyske Bank closes Jyske Bank Schweiz
  • 2020 - Jyske Bank sells Jyske Bank (Gibraltar) Ltd.

Subsidiaries

Remaining international branches or subsidiaries
  • Jyske Bank, Filiale Hamburg (Germany) [3]

Products

Jyske Bank offers a range of banking products, including savings and loans, mortgages, private banking, offshore banking and business banking.

Controversies

Jyske Bank was mentioned in the Panama Papers and the bank was used by Sergei Pugachev for money laundering.[4] In 2018 the Danish FSA criticised the bank for insufficient measures to prevent money laundering.[5]

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References
  1. "Annual Report 2010" (PDF). Jyske Bank. Retrieved 3 March 2011.
  2. Jyske Bank is larger than Sydbank, which has its headquarters in Aabenraa.
  3. Bank Profile: Jyske Bank A/S, Filiale Hamburg
  4. Russisk rigmand skjulte millioner gennem Jyske Bank
  5. Redegørelse om inspektion i Jyske Bank A/S (hvidvaskområdet)
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