As a result of the extraordinary situation regarding the spreading of COVID-19, Danske Bank will in the coming period expand its support and advisory services to private individuals and businesses who suffer financial consequences.

“We are in an extraordinary situation that has major financial implications for society, businesses and families alike. As the country's largest bank, we have a significant responsibility for helping to minimise the damage caused by COVID-19, and we will go a long way to help our customers through this challenging situation,” says Chris Vogelzang, CEO of Danske Bank.

Danske Bank has set up a dedicated unit to provide urgent help to those hit the hardest and in the coming period, we will make a wide range of options available to support, for example, those who have temporarily lost their jobs as a result of COVID-19 and businesses that, because of a decrease in sales or cancelled orders, need extra liquidity, for example in the form of increased overdraft facilities or deferment of payments.

Concrete examples of Danske Bank’s options for normally creditworthy customers affected by COVID-19:

• Customers with consumer loans will be able to obtain overdrafts, payment in instalments, increases of facilities and extension of the term
• Mortgage finance customers will be able to get overdrafts, payment in instalments and the possibility of interest-only periods
• Businesses will be able to defer payments and obtain increases in overdraft facilities and facility limits
• The charging of negative interest will be suspended for the rest of the year for up to 90,000 small businesses with deposits of less than DKK 500,000. The same businesses will receive an offer for credit card payments to be charged only after three months
• Large businesses will be kept up-to-date about developments in the financial markets, and we will offer participation in webinars on specific issues as well as sparring and advice from Danske Bank's experts in the areas where this is most needed
• Customers with purchase contracts and private leasing agreements with Danske Bank's leasing company Nordania may be granted arranged overdraft facilities to make payments as they fall due. Businesses with lease agreements will be able to defer payments and obtain increases in overdraft facilities and facility limits

“We will look at the situation of each individual person or business and then assess how we can best help them. For some, it will be by offering deferment of payments on their home loan for up to six months, for others, deferring the payments on their car loan or temporarily extending their overdraft facility will be the best solution to help them through the coming period. We will also help the 90,000 smallest of our business customers, among other things, by suspending the charging of negative interest on credit balances of less than DKK 500,000 for the rest of the year and offering longer credit periods on their credit cards,” says Jacob-Aarup Andersen, Head of Banking DK at Danske Bank.

With these actions, Danske Bank wants to help mitigate the challenges that people and businesses in Denmark face as a result of COVID-19. We encourage everyone to contact us if they need help, by booking a meeting, writing to our support service or by contacting their own adviser.

“In recent weeks, we have been in contact with thousands of customers and have people working 24/7. In addition to contacting as many as possible ourselves, I encourage all customers affected by the situation to book an online meeting via our website or write to us as soon as possible, so that we can look at how best to help them,” says Jacob Aarup-Andersen.

We will closely monitor developments in the coming period and will regularly adjust our advice and support. As a customer, you can always find up-to-date information on our website.

Retail customers: https://danskebank.dk/privat/news/coronavirus
Businesses: https://danskebank.dk/erhverv/seneste-nyt/2020/coronavirus-erhverv

Danske Bank

We have also taken appropriate measures in the other Nordic markets depending on the local situation.