Money pours out of Danske Invest and into smaller competitors
Danske Invest is losing significant market shares in its domestic market . The union itself explains that strategy and market dynamics are the reasons for the net loss of DKK 8bn (EUR 1.1bn). The money has mostly gone to smaller industry players, owned by several country-wide and local financial institutions.
BY ANNE LOUISE HOUMANN
2019 has been a busy year for Danish banks like Ringkjøbing Landbobank, Spar Nord and Sparekassen Sjælland-Fyn. Not only because more Danes have moved money from deposits to savings; there are also customers, especially those from Danske Bank, who are moving their investment accounts from the country’s biggest bank to the smaller financial institutions.
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