Some 40,000 customers have left Danske Bank Danmark since it introduced its
new strategy of thinning out its portfolio of smaller customers, according
to its interim accounts for the first six months of 2013.
“Customers with a very small business volume tend to gather their business
with their primary bank and may thus decide to leave Danske Bank. In the
first six months of 2013, some 40,000 customers left Danske Bank in
Denmark,” the report says.
“This outflow is as expected in view of the fact that we have launched an
entirely new way of being a customer with Danske Bank,” it adds.
Nonetheless, the bank’s new customer programme, under which smaller customers
pay a fee to have an account with the bank, has attracted customers.
The second quarter of 2013 saw 306,000 customers sign up for the new Personal
Banking programme, which now has 773,665 subscribers.
Net fee income for the first six months of 2013 has boosted revenues to just
over DKK 4.4 billion, compared with DKK 4.06 billion in the first half of
Danske Bank’s new customer programme was presented in January and involves
smaller customers without major loans, insurances or pension policies having
to pay a subscription to be a customer with the bank.
While banking with Danske Bank will be more expensive for some, it will be
cheaper for others and free for major customers.
There are six customer groups and two subscription models, with fees ranging
from 0 kroner to 120 kroner per quarter.
Several other Danish banks have chosen to follow Danske Bank’s example and
have introduced fees for accounts.
FACEBOOK – Follow
Politiken’s News in English