The changes will be in effect from 26 April 2018 and concern our relationships with local Baltic businesses and private banking customers, whereas international customers are not affected.
Re-positioning our Baltic activities towards a Nordic focus
Therefore, we want to align our activities in the Baltics with our Nordic ambition and have no local exposures outside the Nordics and Northern Ireland. This includes harmonising our value propositions and service model cross borders to be the same in the Baltics as in Germany and Poland, for example.
Effect on our relationship with local businesses and private banking
We will of course continue fulfilling all our obligations concerning current arrangements:
- Business and personal loans, including mortgages, will continue unchanged in line with existing terms and conditions.
- Existing day-to-day personal and business products will continue to be supported until further notice.
- Day to day products for both personal and business customers will however be withdrawn on a phased basis during 2018. You will of course be given notice of any changes to your arrangements with the bank.
- However, the decision means that we will no longer be able to enter into new financial arrangements with local businesses and private banking customers.
You will get detailed information as soon as possible
As your arrangements with us remain in place until further notice, there is no need for you to take any action now.
Frequently asked questions
How will this impact local customers? Should you take any actions?
The bank will fulfil all our obligations for current engagements.
Existing day-to-day personal and business products will continue to be supported until further notice and loans will continue unchanged in line with existing terms and conditions. Day to day products for both personal and business customers will be withdrawn on a phased basis during 2018 where possible.
At the moment no action is needed from you as a customer. Moreover, we will continue to serve you within existing obligations. All services and agreements will remain in force.
We will get back to you as soon as we know more details, and you will be informed about the changes in advance, no less than 60 days before changes become valid.
What is the definition of an “international customer”? How will the changes impact international customers?
An international customer is a customer of Danske Bank Group in the Nordic countries (whose headquarters is based in the Nordics) as well as global corporates with a significant Nordic footprint and who uses Danske Bank in one of the Nordic countries.
Going forward, we will provide you with more dedicated attention to your banking needs, and are already investing significantly in harmonizing our services, product offerings and solutions cross borders.
Since there are no changes for your customer relationship with us, no action is needed from you. If you or your colleagues have private banking arrangements with us, you will be notified separately.