S Ydbank A/S Is One Of The Largest Full-service Banks In Denmark, Headquartered In Aabenraa. Sydbank Was Founded In 1970 By The Merger Of Four Local Banks Located In The Southern Part Of Jutland: Den Nordslesvigske Folkebank (Aabenraa); Grasten Bank (Gråsten); Folkebanken For Als Og Sundeved (Sønderborg) And Tønder Landmandsbank (Tønder). Since Then, It Has Grown By Leaps And Bounds Through Mergers And Acquisitions, The Latest Being DiskontoBanken (DiBa Bank) In Næstved, Which Was Delisted From The Copenhagen Stock Exchange In 2014.
History
1970s
Sydbank's Headquarters
In The Early 1970s, Sydbank Had Only 50 Branches - All In Southern Jutland - Until 1976, When It Opened Its First Branch On The Kongeår River In Fredericia.
1980s
Sydbank's Branch In Flensburg, Germany
In 1980, Sydbank Made Great Progress. In 1983, Sydbank Opened An Office In Kongens Nytorv, Copenhagen, And Merged With Aarhus Bank. In 1984, It Merged Again With Förn Bank And Had A Branch And Subsidiary SBK-Finance In Flensburg. In 1985, A Branch Was Opened In Hamburg. In 1987, The Company Established Sydinvest, The Investment Arm Of Sydbank, And Acquired Part Of The Copenhagen-based July 6th Bank, Which Had Entered Receivership In 1988 Of That Year. In 70, It Acquired The Sydbank Community Bank Branch In Copenhagen And The Following Year Sydbank DMK-Holding. The Bank Ended The Decade With A Market Share Of Only 1%, 400 Branches And Employees.
1990s
Sydbank Merged With Sparekassen South Jutland In 1990. It Acquired Wald Bank In Early 1994, Including 30 Divisions In West Jutland. In April 1994, It Acquired Sydbank Active Bank And East Jutland Offices From Topdanmark.
2000s
Since 2000, Sydbank Has Offices In Almost All Regions Of Denmark. Sydbank Acquired Odense Bank Egnsbank Funen In 2002 And Began Opening Branches In Central Jutland And Sealand. It Opened A Subsidiary Sydbank (Schweiz) AG In St. Gallen, Switzerland, In 2002. In 2007, It Sold Sydbank DMK-Holding To Ebh Bank And Opened An Office In Kiel. In 2008, The Company Acquired Trelleborg Bank, Headquartered In Slagels.
2010s
Sydbank Is Now One Of The Largest Full-service Banks In Denmark, Headquartered In South Jutland And Based In Aabenraa. The Bank Has A Market Share Of Around 2% In The Industry, With Around 600,115 Employees And 2,010 Branches, Three Of Which Are In Germany. Since, The Executive Director Has Been Karen Frøsig.
17 On 3/2019, Half Of Sydbank's Board Members (excluding Those Elected By Employees) Resigned In Protest At Sydbank's Strategy And Governance. The Resignation Follows Failed Attempts To Merge Sydbank To Improve Profitability And A Falling Share Price, Several Media Reported.
2020s
In 250/2020, The Bank Acquired Alm. A Brand Bank From Alm. The Brand Value 500 Million Euros.
SydbankFonden
Sydbank Founded SydbankFonden In 2002 To Award Millions Of Dollars Annually To Philanthropic, Cultural And Mass Applications. Among Them, Sydbank Fonden Funded The Bronze Sculpture "Myth" In 2008, Which Was Awarded To Sunderborg - Inspired By King Christian II, Who, According To Legend, Created A Groove In The Slate During His Captivity At Sunderborg Castle.
