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Banking Activities caters to all types of retail and corporate customers. The Group’s finance centres serve large corporate and private banking customers. Mortgage finance operations in Denmark are carried out through Realkredit Danmark, while real-estate agency operations are carried out by “home”, Skandia Mäklarna and Fokus Krogsveen Nylander, the Group’s real-estate business agencies. On January 1, 2008, the Group merged its Mortgage Finance and Banking Activities Denmark business areas. The presentation of the financial results of the Group’s aggregate mortgage finance operations in Denmark thus now corresponds to the presentation of such activities outside Denmark. The change should be seen as a continuation of the strengthening of Realkredit Danmark’s local presence in the private market and its partnership with Danske Bank. The Group has transferred employees from Realkredit Danmark to Banking Activities Denmark to ensure that customers get the best advisory services on mortgage finance.
Danske Markets is responsible for the Group’s activities in the financial markets. Trading activities include trading in fixed income products, foreign exchange and equities; advisory services on mergers and acquisitions; and assistance with equity and debt issues on the international financial markets. Proprietary trading encompasses the Bank’s short-term risk taking. Group Treasury is responsible for the Group’s strategic fixed income, foreign exchange and equity portfolios. Institutional banking includes facilities with international financial institutions outside the Nordic region.
Danske Capital develops asset management products and services sold through the Group’s banking activities and directly to businesses, institutional clients and external distributors. Danske Capital supports the advisory and asset management activities of the Group’s banking activities, and through Danske Bank International in Luxembourg, it provides international private banking services to clients outside the Group’s home markets. Danske Capital is represented in Denmark, Sweden, Norway, Finland, Estonia, Lithuania and Luxembourg.
Danica Pension is a market leader in the Danish life insurance and pensions markets. Danica Pension targets both personal and corporate customers. Danica Pension markets its products primarily through its own insurance brokers and advisers and through the Bank’s branch network.
Other Areas encompasses expenses for the Group’s support functions and real property activities. Other Areas also covers eliminations, including the elimination of returns on own shares.
As of January 1, 2008, the capital costs of Other Areas are allocated to the other business areas. Comparative figures for 2007 have been restated. |