Change in legal structure

Danske Bank Group is planning to merge its activities in Finland with our parent company Danske Bank A/S in order to simplify its organisation. Following the merger, our bank services will be offered in Finland by Danske Bank A/S, Finland Branch.

The change does not require any action from our customers.

Combining the activities is primarily a legal and internal change that does not have an effect on your current banking services.

As a result of organisational change, our Finnish customers will be transferred under the Danish deposit guarantee fund and Danish investors’ compensation scheme. The deposit guarantee and investor protection schemes are largely harmonised within the EU, and the general deposit guarantee compensation level is the same in Denmark as in Finland, 100.000 euro. You can read more about the deposit guarantee scheme in the attachment.
Deposit guarantee (pdf)

Our banking operations have a 130 year history in Finland, and our goal is to be your most trusted financial partner also going forward. And a more simple organisation will also support this by making it easier for us to develop our services to your benefit.

We aim to execute the change in our company structure around year-end 2017. The plan is still subject to, among other things, approvals from authorities.


General questions

Why did I receive a letter about the change in Danske Bank’s company structure?
We wanted to inform our customers about our plans to merge our activities in Finland – Danske Bank Plc and Danske Bank A/S, Helsinki branch – into a single branch. Customers received the information either in a letter or in their webbank.

All banking services will remain the same as before, the change in legal structure does not affect them.

I am not a customer of Danske Bank, why did I get a message about this in MobilePay?
Danske Bank Plc as a legal company is the service provider for MobilePay in Finland. Thus also the MobilePay customers have been informed about the change in service provider.

Why is Danske Bank changing its company structure?
The purpose of the planned change is to simplify our company structure. The simpler our organization is, the easier it is for us to develop our services to the benefit of our customers.

Combining our activities is primarily a legal and internal change that does not have an effect on our banking services, and it does not require any action from our customers.

How will the change in company structure affect Danske Bank's services in Finland?
All banking services will remain the same as before, the change in legal structure does not affect them.

What will happen to Danske Bank’s branch offices in Finland?
The change in company structure does not any impact on our branch network.

What will happen to for example bank accounts, cards or housing loans?
From the customer's point of view, nothing will change. All services and products will remain unchanged.

What if I have had an account in Danske Bank A/S already?
The account numbers will remain unchanged, as will the login to the services. The BIC code for the existing Danske Bank A/S Helsinki Branch accounts will change after a transition period. We will inform our customers in more detail about this in due course.

How will the change affect my investments in funds or unit-linked insurance policies?
It will not affect them at all.

My company has an agreement with Danske Bank Plc. What will happen to the agreement?
As a starting point, the Finnish legislation has a universal succession principle, which means that the agreements made with Danske Bank Plc will be valid as such with the new Danske Bank A/S Finland Branch as the new counterpart. We are reviewing our agreements and will contact any partners with whom we have an agreement that may need to be adjusted, but we expect this to be an exception.

When will the change take place?
We aim to execute the change in our legal structure around year –end 2017.

What will be the company name and address going forward?
The new name of the company will be Danske Bank A/S, Finland branch, and the address will be Televisiokatu1, 00075 DANSKE BANK, Finland.


Supervision & Consumer protection

Will the Finnish Financial Supervisory Authority lose supervisory powers over Danske Bank in Finland?
The main supervision responsibility will move to Copenhagen, but the Finnish FSA will continue to play an important role. The Finnish FSA will continue to supervise our product and service offerings in Finland and issues related to consumer protection as well as anti-money laundering.

Can customers continue to seek conciliation in disputes from Finnish consumer authorities, such as the Finnish Financial Ombudsman Bureau (FINE)?
Yes, the simplification of the legal structure does not affect this in any way. Finnish consumers will be able to contact the Finnish Financial Ombudsman Service and the Finnish Consumer Disputes Board just as before.


Deposit guarantee

What is a deposit guarantee scheme?
The deposits of private persons, associations and companies with deposit banks are covered by deposit guarantee. The purpose of the deposit guarantee scheme is to ensure the repayment of the depositors' claims in the event that the deposit bank itself is incapable of doing so.

The Finnish customers will be transferred under the Danish deposit guarantee scheme. What does that mean?
The deposit guarantee schemes are largely harmonised within the EU, and there are no major differences in the Danish and Finnish deposit guarantee schemes. The general deposit guarantee compensation level is the same, in Denmark as in Finland, 100.000 EUR.

More information about the Danish deposit guarantee scheme is available in Danish and English at www.gii.dk.

What if I already have an account in Denmark and in Finland?
The account in Denmark is already covered by the Danish deposit guarantee scheme. The only change in this matter is that when counting the upper limit for the deposit guarantee, the two accounts will be treated as one.

The Finnish deposit guarantee also covers assets in excess of EUR 100,000 if the assets have been received from the sale of one's own residence. Does the same apply in Denmark?
The Finnish deposit guarantee covers assets without an upper limit for a period of six months. Under the Danish deposit guarantee scheme, the maximum cover is 10 million EUR, but the guarantee is valid for 12 months. In addition, the Danish scheme is not limited to funds from the sale of your own apartment, but covers for example deposits related to other real estate as long as it has not been used for commercial purposes.


Investors’ compensation scheme

Finnish customers will also be transferred under the Danish investors' compensation scheme. What will change?

The investors' compensation scheme safeguards investors' claims in cases when a bank or another investment service provider that is a member of the compensation scheme is unable to pay the investors' receivables. There are no major differences between the Danish and Finnish investors’ compensation schemes.

More information about the Danish investors’ compensation scheme is available in Danish and English at www.gii.dk.