September 21, 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 20 October 2011.
The background for the increase is the higher funding costs of Danish and other European banks.
"The turbulence in the international financial markets has made it more expensive for banks in Europe to borrow money. This also affects Danske Bank, even though we are one of the best-capitalised banks in Europe, and is the reason why we have to raise lending rates by up to half a percentage point," says Tonny Thierry Andersen, member of Danske Bank’s Executive Board.
Tonny Thierry Andersen, Member of the Executive Board, tel. +45 45 14 07 07
Kenni Leth, Group Press Officer, tel. +45 45 14 56 83, mobile +45 51 71 43 68