Arbejdernes Landsbank

Arbejdernes Landsbank

Headquarters near Copenhagen Central Station.
Type	Aktieselskabet
Industry	Financial services
Founded	June 19, 1919
Headquarters	Vesterbrogade 5, Copenhagen, Denmark
Coordinates	55°40′27″N 12°33′50″E / 55.67417°N 12.56389°E
Key people	Gert R. Jonassen (Managing Director) Jan Walther Andersen (CEO)
Operating income	DKK 329.826 million(2015)[1]
Net income	DKK 137.993 million (2015)[1]
Total assets	DKK 42,070.389 million (2015)[1]
Total equity	DKK 5,279.627 billion (2015)[1]
Owner	Fagligt Fælles Forbund (20%)
Number of employees	1,075 (2015)[1]
Subsidiaries	AL Finans A/S[2]
Slogan	Bygger på sunde værdier Based on sound values
Website	www.al-bank.dk

Arbejdernes Landsbank (National Workers Bank) is a Danish bank founded in 1919 with approximately 250.000 customers and 1,075 employees.^[1] It is the 7th largest bank in Denmark.^[3] As of 2014 the bank has 70 branches in Denmark.^[4]

History

The bank was founded by Danish trade unions, the Social Democrats and Arbejderkul (union of coal workers) with a starting capital of DKK 2 million, most of which was pledged by Arbejderkul, who were particularly powerful after performing a crucial role in securing Denmark's energy supply during World War I.^[5] Although the bank was officially a public company, the shares could not be listed and remained with the labour movement. In practice the bank operated as a cooperative.

During the great depression, major shareholder Arbejderkul ran into trouble and the trade union federation joined the ownership of the bank. In the 1960s the bank went through a major growth period, attracting new private customers and many independent branches were opened throughout Denmark. ^[6] In 1986, ALFINA was bought and later renamed to AL Finans A/S. The bank also owns a share in Østjydsk Bank.^[7]

As of 2014, the bank has 24,000 private shareholders, although the trade unions remain the major shareholders.^[4][8]

Customer satisfaction

In customer satisfaction studies among Danish banks, Arbejdernes Landsbank is consistently ranked as the highest rated bank.^{[9][10][11][12][13]}

References

1. "A/S Arbejdernes Landsbank - Koncernen Hovedtal" (PDF). Arbejdernes Landsbank. 2016-02-10.
2. "Organisation". Arbejdernes Landsbank.
3. "De største banker i Danmark". Monera. 2016-02-11.
4. "Historien fortsætter". Arbejdernes Landsbank.
5. "4.5: Arbejdernes Brændselsforretning - Arbejderkul". Arbejdermuseet.
6. "Historie". Arbejdeners Landsbank.
7. "Arbejdernes Landsbank ser potentiale i østjysk opkøb". Børsen. 2013-05-31.
8. "Indtjening falder markant for Arbejdernes Landsbank". JydskeVestkusten. 2014-08-20.
9. "Danmarks bedste bank 7 år i træk". Arbejdernes Landsbank.
10. "Danske Bank:: Tilfredsheden er steget, siden Kolding blev fyret". 2014-01-07.
11. "Arbejdernes Landsbank wins Loyalty Award". Loyalty Group. 2013.
12. "Loyalty Awards". Loyalty Group.
13. "Arbejdernes Landsbank slår storbanker på kundeloyalitet". Berlingske Business. 2015-12-30.