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Danske Bank raises deposit and lending rates

Press release

As a result of the ongoing turbulence in the financial markets and the consequent increase in funding costs incurred by financial services providers, Danske Bank Denmark has decided to raise its variable deposit and lending rates by up to 0.5 of a percentage point with effect from April 30, 2008.

The adjustments do not apply to the 24/7 and 24/7 Ung no-fee product packages, Danske Prioritet and Danske Prioritet Plus.

Furthermore, Danske Bank Denmark introduces a new savings product, Danske Toprente, which offers a fixed rate of interest on deposits of 5.00% for two years. The Bank has decided to accept up to DKr5bn worth of deposits at this higher rate of interest. The account will be open for deposits with effect from Wednesday, April 9. Danske Toprente is a two-year term deposit, but customers will be entitled to withdraw funds from the account during this period against a fee of 1-2% of the amount withdrawn with a minimum of DKr250.

Customers may deposit amounts between DKr40,000 and DKr500,000.

Danske Bank

Henrik Normann, Head of Danske Bank Denmark, tel. +45 45 14 04 44
Jonas Torp, Head of Press Relations, tel. +45 45 14 56 94