Customers are coming back to Danske Bank A/S as Denmark’s largest lender is putting past scandals behind it.
(Bloomberg) — Customers are coming back to Danske Bank A/S as Denmark’s largest lender is putting past scandals behind it.
Danske’s retail customers are growing for the first time in 10 years in its home country, according to a Voxmeter poll of the Nordic nation’s 20 largest banks, cited by local media, including Finans. The lender attracted a net inflow of 14,061 clients from the beginning of last year through the end of April this year, the media said.
“We have seen a major improvement in customer development throughout 2022, and the positive development has continued this year,” Mark Wraa-Hansen, head of retail customers in Denmark said by email. “There’s been an increased inflow of more complex customers who require more complex advice, for whom we can make a difference with our expertise advise.”
Danske Bank has been working to restore trust among its stakeholders as it recovers from earlier misconduct, including the largest money laundering scandal in Europe. It last year settled a fine with authorities and had earlier replaced most of its top management.
“Our customer satisfaction also continues to improve,” Wraa-Hansen said. “We are fully aware that our historic cases have negatively affected the bank’s reputation.”
Danske’s shares advanced as much as 3.9% in Copenhagen, and were among Monday’s best performers on the Stoxx 600 Banks Index.
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