Scan Magazine

By Signe Hansen | Photo: Yiannis Katsaris

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As Danske Bank and its Finnish subsidiary, Sampo Bank, opened the doors to a prestigious event with the CEO of Thomson Reuters, Tom Glocer, as guest speaker, the message was clear: after a couple of hard years, the banks’ clients are getting back on their feet and the banks are there for them, open for business.

The event, which was organised together with the Finnish Chamber of Commerce, was opened by Danish Anders Wulff Larsen, head of Danske Bank’s International Corporate Banking (ICB) in London. Danske Bank has been present in London since 1983 when it set up office to be able to meet the requirements of its Scandinavian group customers expanding into the UK market. “I am pleased to say that this is a long term commitment and you will continue to see Danske Bank and our Brand names in the UK in the future,” said Larsen, to the full room at the London Capital Club. But he also stressed. “We are here to underline the fact that our Nordic business is very important to us and that one of our main markets is, in fact, the Finnish market.”

Sampo Bank’s new colours

With Danske Bank’s acquisition of Sampo Bank in 2007, there began a 14 month long process to integrate the bank’s operations and organisation into the group’s organisational structure. Larsen himself was not a part of this restructuring, but as earlier in his carrier he had spent two years in Helsinki working for Danske Bank, the Finnish market was by no means unfamiliar to him. In Helsinki, Larsen worked closely together with Pekka Vataja, the current Head of Danske Bank’s Corporate & Institutional Banking in Finland. Vataja also attended the event and in front of Danske Bank’s characteristic white and blue logo with Sampo Bank’s name on it he explained: “As you can see, we have two names; Sampo Bank is Danske Bank’s name in Finland. When Sampo Bank was acquired by Danske Bank in 2007, it was already an established bank in Finland, so instead of replacing it or setting up something new, Danske Bank gave it a boost by connecting it to its international network and providing the necessary capital.”

Well prepared for the future

When acquired by Danske Bank Group, Sampo Bank had a network of 128 branches with 3,200 employees. Much of this structure was kept, but sweeping changes also took place. One of the key milestones was the merger with Danske Bank’s information system and the web-based cash management system.

“It gives our customers the opportunity to operate cash management online through the same system in all countries where we are represented, which is a unique service. It gives a huge advantage for group companies in that they can optimize their cash flow,” Larsen explained.

After the merger, Danske Bank Group became one of the largest banking groups in Northern Europe while Sampo Bank, with more than 1.1 million personal customers and 100,000 corporate and institutional customers, is the third largest bank in Finland. Both are therefore more than ready to take on new requirements from old clients as well as new; Vataja concluded: “The mood in Finland is improving and it is the same feeling in the bank; the mood has shifted. Last year people were preoccupied by the financial environment, but now we see customers planning for expansions and the future. It is a much more positive outlook, and I am glad to be able to say that we in Sampo Bank are open for business.”