Roskilde Bank was a local Danish bank founded in 1884. It was based in

Roskilde Roskilde ( , ) is a city west of Copenhagen on the Danish island of Zealand. With a population of 53,354 (), the city is a business and educational centre for the region and the 10th largest city in Denmark. It is governed by the administrative ...

with branches over much of

Region Hovedstaden The Capital Region of Denmark (, ) is the easternmost administrative region of Denmark, and contains Copenhagen, the national capital. The Capital Region has 29 municipalities and a regional council consisting of 41 elected members. As of 1 ...

. It merged in 1996 and was taken over by the Danish National Bank in 2008.

History

Roskilde Bank was founded in 1884 and in 1996 merged with Ringsted Sparekasse. On 24 August 2008 it was acquired by the Danish National Bank after running into financial trouble due to the decline of the Danish property market. The Bank remains formally listed on the Copenhagen Stock Exchange, but trading has been suspended. The Bank had approximately 32,000 shareholders. The Bank was, according to the Finance Council's statement, Denmark's 10th largest bank.

Danish National Bank acquires Roskilde Bank

On 24 August 2008, the National Bank officially stated that, together with the Private Contingency Body for Settlement of needy banks, savings and cooperative societies, it had taken over the bank because it was insolvent and could not find a buyer. This was the first time since 1928 that the Danish National Bank had taken over another bank. The loss is assumed to be between £3-6 billion, but circulating allegations maintain that the loss in the worst case could amount to 37 billion Kroner. The 33000 shareholders also stand to lose their money.

Sale of subsidiaries

On 29 September 2008 Roskilde Bank signed agreements for the sale of a total of 21 branches, including 9 branches to

Nordea Nordea Bank Abp, commonly referred to as Nordea, is a Nordic financial services group operating in northern Europe with headquarters in Helsinki, Finland. The name is a blend of the words "Nordic" and "idea". The Nordic countries are considered ...

, 7 branches to Spar Nord Bank and 5 branches to Arbejdernes Landsbank.

References

External links

Roskilde BankDanish National Bank
{{Authority control Bank failures Defunct banks of Denmark Banks established in 1884 Danish companies established in 1884 Banks disestablished in 2008 2008 disestablishments in Denmark Companies based in Roskilde Municipality