List of Banks in Denmark
The Danish banking sector is highly concentrated with four dominant market players: Danske Bank, Nykredit, Nordea and Jyske Bank. There are more than 80 banks in Denmark including seven mortgage banks and 27 foreign banks. Not all banks offer online banking in English. Central bank of Denmark (or Danmarks Nationalbank), incorporated in 1936, is responsible for stable financial system and safe payments in the country. The Financial Supervisory Authority (FSA) is responsible for supervision and regulation of banking industry. The large Danish banks are rated by international agencies. Here's a list of the major and popular banks in Denmark.
Top 10 Banks in Denmark
The table shows the top banks in Denmark ranked by total assets in billions of U.S. dollars.
| Rank | Name | Total Assets, US$b |
| 1 | Danske Bank | 538.65 |
| 2 | Nykredit Group | 229.05 |
| 3 | Nordea Danmark | 180.96 |
| 4 | Jyske Bank | 107.36 |
| 5 | DLR Kredit | 25.80 |
| 6 | Sydbank | 25.67 |
| 7 | Spar Nord Bank | 17.74 |
| 8 | Arbejdernes Landsbank | 15.46 |
| 9 | Saxo Bank | 12.95 |
| 10 | Ringkøbing Landbobank | 9.87 |
Total assets as of December 31, 2022
Danske Bank
Danske Bank Group is the largest bank in Denmark by assets, deposits and market capitalization. The company operates via the following business lines: Banking DK, Banking Nordic, Corporates & Institutions, Asset management, Northern Ireland and Non-core unit. With presence in eight countries, it serves over 3.3 million personal, business and institutional customers through over 150 branches.
Nykredit
Nykredit Group is the second largest bank in Denmark in terms of total assets. It is also the largest lender in the country with a market share of over 30% and the leading mortgage lender with a market share of 45%. The company operates through the following subsidiaries: Nykredit Realkredit, Totalkredit, Nykredit Bank and Nykredit Mægler. In 2022, the Group’s profit after tax reached DKK 9.5 billion. Nykredit Bank enjoys strong credit ratings of A+ and A from Standard & Poor’s and Fitch, respectively.
Nordea Danmark
Nordea Danmark, subsidiary of Nordea Bank Abp, has a strong presence in Denmark with over 1.6 million household customers (market position N2) and 65,000 corporate, institutional and SME clients. Nordea Kredit provides mortgage lending services in the country. In 2023, the bank's total operating income in the Danish market was EUR 3.1 billion, according to Nordea's financial report.
Jyske Bank
Jyske Bank A/S is one of the top 5 banks in Denmark with total assets of DKK 780 billion and mortgage loans of DKK 353 billion. Net profit and revenue reached DKK 5.9 billion and DKK 29 billion, respectively, in 2023. With over 3,900 full-time employees, the company provides products and services through about 100 branch locations in Denmark and a business branch in Hamburg. The subsidiary in Gibraltar was sold to Rooke Investments in 2020. The company was established in 1967 and is headquartered in Silkeborg.
DLR Kredit
DLR Kredit A/S (Danish Agricultural Mortgage Bank), headquartered in Copenhagen, is a specialized institution focusing on mortgage lending services for agricultural and urban trade properties. The company is owned by local and national financial organizations. DLR has no branches and loan products are distributed through a network of shareholder banks.
Sydbank
Sydbank A/S, based in Aabenraa, Southern Jutland, is an independent full-service corporate and advisory bank. It maintains a network of 54 domestic branches and three branches in Germany. The company’s shares are listed on the NASDAQ Copenhagen stock exchange, with a market capitalization of US$2.8 billion as of February 2025.
Spar Nord Bank
Spar Nord Bank A/S, headquartered in Aalborg, North Jutland region, is one of the top 10 banks in Denmark. It specializes in retail and SMEs banking for the local communities. With a customer base of about 400,000 people, it operates through 49 branches and employs over 1,500 full-time equivalent staff.
Arbejdernes Landsbank
Arbejdernes Landsbank (ALB) is a full service retail bank with more than 1,150 strong workforce, 350,000 clients, over 19,000 private shareholders and 61 branches across the nation. As of December 31, 2023, Arbejdernes had DKK 117 billion in total assets, DKK 94 billion in deposits and DKK 48 billion in loans.
Saxo Bank
Saxo Bank A/S is an investment bank engaged in multi-asset trading and investment. The company has offices in major financial hubs including London, Paris, Tokyo, Singapore, Hong Kong, Shanghai, Sydney, UAE, and Geneva. The Bank’s clients have access to Stocks, Bonds, CFDs, Forex, Futures, ETFs, and Options. Kim Fournais is founder and chief executive officer (CEO) of Saxo.
Ringkjøbing Landbobank
Ringkjøbing Landbobank A/S is a regional and niche bank with main operations in central and west Jutland. It is the most popular Danish bank based on customer reviews. Nordea is the worst bank in Denmark according to a Voxmeter survey of about 40,000 customers. Landbobank has offices in the following cities: Herning, Holstebro, Hvide Sande, Aarhus, Tarm, Viborg, Vildbjerg, Holte and Vejle.
Sparekassen Kronjylland
Headquartered in Randers, it is the largest savings bank in Denmark with more 135,000 customers and 650 employees. Sparekassen Kronjylland is one of best financial institutions in the Danish banking industry based on capital, liquidity and credit quality. Founded in 1829, it is the oldest savings bank in Denmark and the only bank in many small towns. Recently, it opened a new branch in Aalborg.
Vestjysk Bank
It is a customer-focused bank serving retail and business clients via a branch network in selected locations in Jutland. It operates through four segments: business banking, retail banking, markets and an agricultural center. With over 400 FTE employees, Vestjysk offers traditional banking products and services including savings, pensions, credit and debit cards, personal and mortgage loans, investments, insurance and more. Vestjysk Bank is a subsidiary of Arbejdernes Landsbank, but operates independently.
Related articles: Largest Banks, Foreign Banks in Denmark
Last updated February 1, 2025