Danish customers turn their backs on the big banks

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Danish bank customers lack proximity to banks, and also trust. Now thousands of them are leaving the big banks in favour of smaller competitors.


Last year, the eight largest banks in Denmark lost 44,700 customers, according to a survey from Voxmeter. That’s almost three times as many as the year before, wrote the net portal, ‘Finans’.

“It is a significant development. The clients lack closeness, security and trust, and there is an expectation that you will get these in smaller banks,” said Voxmeter’s CEO, Christian Stejr.

Four of the major banks have won more customers over the past two years, while four of them have lost customers.Nordea and Sydbank had the weakest development.

“We have lost too many customers, and we are working hard to do something about it,” said Steen Sandager,managing director of private customers at Sydbank.

In 2016, Danske Bank received more customers for the first time since the financial crisis, but last year there was a new downturn, and according to Voxmeter, approximately 17,200 customers left the bank.


© NTB Scanpix / #Norway Today