Can Danske Bank build trust while cutting costs?


Over the past few months the largest bank in Denmark, Danske Bank, has been deploying a new strategy which involves cutting 2.000 jobs and closing some 75 – 100 branch offices. Today the CEO, Eivind Kolding, claims that the bank wants to “build trust”. A statement that seems rather difficult at a point in time where most customers experience severe increases in financial expenses, and can expect a lower level of service in a near future.

I just posted a blog entry on my personal blog on (in Danish) with an analysis of the situation, Mr. Koldings appearance on tv and thoughts on the banks ability to define a strategy on the basis of their strengths. The shareholders and customers seem to have a hard time finding out what’s new in the strategy named “New Standards”. Even though the banks new pay-off is in English the blog post is in Danish. Read it here.