Danske Bank, formerly known as Northern Bank, is a Northern Irish commercial bank. As Northern Bank, it was one of the oldest banks in Northern Ireland and was one of the ‘Big Four’ Irish banks. These are banks that issue their own banknotes, something Danske Bank does to this day.
Northern Bank was founded in Belfast in 1809; it was originally known as the Northern Banking Partnership. The first branch in the Republic of Ireland was opened in 1840. The bank was acquired by Midland Bank in 1917 – one of two Northern Irish subsidiaries of that bank. These two subsidiaries were merged in 1970, forming Northern Bank. The British and Irish operations were separated in 1986.
Northern was acquired by Danske Bank in 2004 and began using Danske Bank’s trading name in 2012. Danske Bank UK is a standalone company within the Danske Bank Group and operates under a UK banking licence.
Danske Bank Products and Services
Danske Bank does not have a personal or business banking service; the previous offer for these customers was wound down in 2013. Since then Danske has worked solely with corporate and institutional clients.
For corporate clients, the bank offers services across treasury risk management, cash management, international trade finance and debt capital markets. Customers can also access corporate advisory services, with each service geared towards that client’s specific needs.
The bank also works with financial institutions, both banking and otherwise, and offers cash management services, trade finance and money market advisory services including foreign exchange, debt capital markets, derivative finance and commodities.
Institutions who choose to manage their cash with Danske can access information that allows them to optimise their working capital, manage that capital and receive advice on how to improve their cash management from an expert member of the team.