Jyske Bank

Jyske Bank A/S

Type	Publicly traded Aktieselskab (OMX: JYSK)
Industry	Financial services
Founded	1967
Headquarters	Silkeborg, Denmark
Key people	Sven Buhrkall (Chairman), Anders Dam (CEO)
Products	Retail, private and business banking, factoring
Revenue	DKK 6.067 billion (2010)
Profit	DKK 757.2 million (2010)
Total assets	DKK 244.1 billion (end 2010)
Total equity	DKK 13.35 billion (end 2010)
Employees	3,850 (FTE, end 2010)
Website	www.jyskebank.dk

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

The headquarters are located in Silkeborg, and the Bank has offices, branches, or subsidiaries in Denmark, France, Germany, Gibraltar, the Netherlands, Switzerland, and the United Kingdom.

Jyske Bank is number three in Denmark in terms of share of the Danish banking market (approx. 7%), it is the third-largest bank to be listed on Copenhagen Stock Exchange, and it is the largest bank in Denmark to be headquartered outside Copenhagen.^{[citation needed]}

Jyske Bank profiles itself on an informal approach to banking, having abandoned the traditional bank counter-interior in 1998 in favour of an open banking environment, where the customer service agents are seated at round tables with 4-8 agents at each.

On 21 September 2006 a further remodelling was launched, this time using visual rhetorics based on retail rather than banking. Each bank branch now featured a cafe, a play corner for the kids and information on products were gathered in themed boxes that can be scanned at info stations for more information on the box content.

The current CEO of Jyske Bank is Anders Dam. The bank employs some 4500 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.

International operations

• 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) in Gibraltar, a family-owned bank and the oldest bank in the colony.
• 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 an office to conduct private banking in Cannes, on the French Côte d'Azur. It later converted this to a subsidiary.
• 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 or 2009 - Jyske Bank closed its branch in London.

Subsidiaries

• JN Data A/S
• Jyske Finans A/S
• Silkeborg Datacentral A/S
• Nordisk Factoring A/S

Banking branches or subsidiaries

• Jyske Bank (Schweiz)
• Jyske Bank Ltd. (Gibraltar)
• Jyske Bank, Filiale Hamburg (Germany)
• Jyske Bank (France)
• Berben's Effectenkantoor B.V. (Netherlands)

Products

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

Investments in unethical companies

DanWatch, a Danish organisation for exposing bad business behaviour, reported that Jyske Bank invests in companies associated with child labor, cluster bomb manufacturing, manufacturing material for nuclear weapons and that have been found guilty of destroying the environment and corruption.

The CEO Anders Dam defends the banks investments in a written reply by saying that the aim of the Jyske Bank investment policy is to "optimize the customers' investments. Therefore the customers' return is the primary focus when making new investments".

In December 2008, Denmark adopted the "Convention on Cluster Munition" which effectively "prohibits all use, stockpiling, production and transfer of Cluster Munitions"

External links

• Official website