Country Awards for Excellence 2014: Nordics & Baltics

Last autumn, Danske Bank would have been an improbable candidate for best bank in Denmark. In September, new CEO Thomas Borgen replaced Eivind Kolding, who was shown the door after an unhappy tenure that had lasted only 19 months. One of Borgen’s first priorities was to inject a healthy dose of realism into Danske’s ambitions, cutting the bank’s ROE target for 2015 from 12% to 9%.