|Financial Market Development|
|4.9 (max 7.0), 21st out of 138 countries|
|5.8 (max 7.0), 18th out of 138 countries|
According to World Economic Forum's Global Competitiveness Report 2017-2018, financial market development in Denmark is scored 4.9 out of maximum 7.0 and ranked 21st out of 138 analysed economies, trustworthiness and confidence of financial market is scored 5.5 (11th place).
Chart 1. Financial Market Development in Denmark. Source: WEF.
Soundness of banks is scored 5.8 bringing Denmark into the 18th place.
Chart 2. Soundness of Banks in Denmark. Source: WEF.
|Maximum Protected Amount|
Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.
From a depositor's point of view it is important to know:
All these details about deposit guarantee scheme in Denmark are summarised in Table 1.
|Scheme Participants||all credit institutions operating in Denmark, branches of non-EEA banks, branches of Danish banks abroad|
|Scheme Exemptions||branches of EEA-banks (covered by their home countries)|
|Eligible Depositors||natural persons, legal entities|
|Covered Accounts||cash deposits|
|Maximum Protected Amount||100,000 EUR|
|Paid In Currency||EUR|
Table 1. Deposit guarantee scheme in Denmark.
EEA stands for European Economic Area and consists of all EU member states plus Liechtenstein, Norway and Iceland.
Moody's country ceilings for deposits specify the highest rating that can be assigned to local- or foreign- currency denominated deposit obligations of a bank or other deposit taking institution domiciled within that country.
|Local Currency (Danish krone)|
Local currency (Danish krone) deposit ceiling for Denmark is set to Aaa (prime), foreign currency deposit ceiling is Aaa (prime).
|Average Deposit Rate (Feb 2019, DKK)|
|0.09 % (Dec 2018: -0.08 %)|
Chart 3. Deposit Rates in Denmark. Source: ECB.
|Number of Banks|
|Consolidated Assets (2017)|
|870.19 bln EUR (-4.31%)|
|Recent Changes (2018)|
|new banks: 3, closed banks: 8|
Currently there are 104 credit institutions operating in Denmark.
In 2017 consolidated banking assets in Denmark were 870.19 bln EUR. The consolidated banking assets' evolution is shown at Chart 4 below.
Chart 4. Consolidated banking assets in Denmark.
Recent structural changes (2013 - 2018) of the banking sector of Denmark are summarised in Table 2.
|Number of Opened Banks||0||10||4||1||2||3|
|Number of Closed Banks||10||8||7||4||4||8|
Table 2. Recent structural changes in the banking sector of Denmark.
The list of the most recently opened banks in Denmark is provided in Table 3.
|EnterCard Danmark, filial af EnterCard Group AB, Sverige (new)||July 2018|
|J.P. Morgan Bank Luxembourg, Copenhagen Br, filial af J.P. Morgan Bank Luxembourg S.A. (new)||April 2018|
|CARNEGIE INVESTMENT BANK, FILIAL AF CARNEGIE INVESTMENT BANK AB (PUBL),SVERIGE (new)||March 2018|
|BNP Paribas S.A. Denmark, filial af BNP Paribas S.A. Frankrig (new)||June 2017|
|UBS Europe, filial af UBS Europe SE, Tyskland (new)||March 2017|
|Citibank Europe plc, Denmark Branch, Filial af Citibank Europe plc, Irland (new)||July 2016|
|MAJ BANK A/S (new)||September 2015|
|EUROCARD DANMARK, FILIAL AF EUROCARD AB, SVERIGE (new)||February 2015|
|RESURS BANK, FILIAL AF RESURS BANK AKTIEBOLAG, SVERIGE (new)||February 2015|
|UBS (Luxembourg) S.A.,Denmark branch, filial af UBS (Luxembourg) S.A. (closed)||February 2015|
Table 3. The most recently opened banks in Denmark.
All the credit institutions operating in Denmark can be classified into several categories. Table 4 summarises the number of banks in each category.
|Category||Number of Banks|
|Branches of foreign banks||25|
There are 25 branches of foreign banks from 7 different countries in Denmark. Table 5 shows the number of branches grouped by the country of origin.
|Country of Origin||Number of Branches|