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Denmark’s two leading banks are gearing up for what Thorleif Krarup, chief executive officer of Unibank, describes as “the coming battle in European banking”. Unibank and its main domestic rival, Den Danske Bank, are threatened by competition that will emerge as banks in Sweden and Germany consolidate. Another cause for concern is that Denmark will be left out of the first round of European economic and monetary union (Emu). Both banks have therefore embarked on ambitious diversification at home and expansion in the Nordic region to safeguard their future in what will be a euro-denominated banking market. |
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