July 1, 2011
Danske Bank raises interest rates
Danske Bank raises its lending rates by up to 0.50 of a percentage point for both personal and business customers. The rate increase takes effect on 1 August 2011.
The background for the increase is the higher funding costs of the Danish banks, including Danske Bank even though we are one of the best capitalised banks in Europe.
One reason for the higher funding costs is the rise in the Danish banks’ payments to the Deposit Guarantee Fund. In the first half of 2011 alone, Danske Bank recognised a charge of DKK 1.3 billion for its payments to the Guarantee Fund.
Tonny Thierry Andersen, Member of the Executive Board, tel. +45 45 14 07 07
Anders Klinkby Madsen, First Vice President, tel. +45 45 14 57 95, mobile +45 25 10 19 19