Content is loading
Skip to main content

The war in Ukraine: What we do at Danske Bank

Danske Bank is following the tragic situation in Ukraine closely, and our thoughts are with all those affected by the war in Ukraine.

We support our customers with advice and ongoing expertise related to our customers’ activities and finances, and we naturally comply with the sanctions imposed by the UN, the EU and the UK, as well as US sanctions. In addition, Danske Bank has taken a number of other initiatives – read more about them on this page.

We are all dismayed by what is happening in Ukraine. There is war in Europe. This is something that affects us all deeply and I would like to express my deepest compassion with everyone affected by the Russian invasion of Ukraine.

The Russian invasion goes against everything Danske Bank stands for, and as a bank and part of the global financial system, we have a key role to play in ensuring that the sanctions imposed on Russia are implemented in a timely and expedient manner.

Carsten Egeriis

CEO, Danske Bank

Sanctions & other initiatives

Danske Bank have no physical presence in Russia. We do not hold Russian assets in the bank's treasury and will not acquire or invest in such assets.
 
More about exposure

We have decided to exclude Russian government bonds and Russian state-owned enterprises from our investment portfolios and products. The implementation will be executed in a way and to an extent that is consistent with our fiduciary duty and will among other things be subject to client contracts and mandates, fund boards and other formal approvals as well as our ability to transact in the market place. 

In line with our Financial Crime Policy, Danske Bank observes relevant sanctions regimes in all jurisdictions where we operate and to which we are exposed.

We observe United Nations, EU and UK sanctions, as well as US sanctions to the extent they have relevant implications for the Group’s business activities. In addition, we may adopt additional restrictions based on overall financial crime risks. Specifically regarding the EU, US and UK sanctions enacted in response to Russia’s invasion of Ukraine, Danske Bank will comply with the new restrictions.

More on what sanctions are


Customers

The war in Ukraine is tragic from a human point of view. It may seem hard to talk about the economy in such a situation, but the war also affects the global economy, and as a bank, we have a responsibility to our customers and society to ensure that our customers get the right advice on how to handle the consequences as best they can.
Our advisers tell our customers what the war can mean for investments and the housing market and how customers should act.

“It is quite understandable that the dramatic situation in Ukraine and in Europe attracts a lot of attention from many investors, but you have to be careful not to sell in panic,” says our chief strategist Frank Øland.
We are in an ongoing dialogue with our business customers about how to handle the consequences of the war.

In addition, we are also holding webinars at which our experts keep our customers up to date on developments. For example, our two chief analysts Arne Lohmann and Jakob Ekholdt have discussed sanctions, energy prices and the importance of the war to the global economy.

We also publish insights on an ongoing basis and are ready to provide advice to customers who need it.
We are in an ongoing dialogue with our large corporates and institutional customers about how to handle the consequences of the war.

At the same time, we are also holding webinars at which our experts keep our customers up to date on developments – they will have the opportunity to meet, for example, our Head of Sanctions & Embargo, Amalie Kornig Wedge, who will talk about the potential consequences of the sanctions.

In addition, we provide ongoing insights through Danske Research, and we are ready to provide advice to customers who need it.

Learn more on your local website

Donation

People across the bank are eager to give a helping hand. We have therefore decided to expand our initiative for corporate volunteering to give our colleagues enhanced opportunities to use their working time to do voluntary work to support Ukraine. 
 
To support the humanitarian needs in Ukraine, Danske Bank has decided to make a direct financial contribution to Red Barnet’s (Save the Children’s) humanitarian aid programme for Ukraine. 

News and insights

If you are interested in the financial markets and economics, a large amount of Danske Research' articles aimed at professional investors are freely available. We also publish news in the universe News & insights.  
Visit Danske Research  Visit News & insights