Banks’ contribution to Danish society

The financial sector is an essential part of the national economy and generates a direct contribution to value creation and employment in Denmark.

Did you know that:


  • Danish credit institutions contributed DKK 111 billion to value creation in Denmark in 2018, which corresponds to around 6 pct. of the overall gross value added. 


  • In 2018, the total number of people employed in banks and mortgage institutions amounted to almost 37.000.


  • The sector also contributes to welfare in Denmark by paying tax bills and payroll tax. In 2017, banks paid more than DKK 6.8 billion from corporate tax to the total revenue of the Danish state. This is equivalent to 9.7 pct. of the total corporate tax in Denmark, which constituted around DKK 71.9 billion in 2017.


  • In addition to corporate tax, banks and mortgage institutions annually pay billions of kroner in payroll tax, which is a tax that the financial sector pays instead of VAT and which is attached to salary expenditure. In 2018, the banking sector is expected to pay a payroll tax of around DKK 3.3 billion.


Source: Statistics Denmark and the Danish FSA

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Finance Denmark is a business association for banks, mortgage institutions, asset management, securities trading and investment funds in Denmark. Our members are mortgage institutions, banks, savings banks, cooperative savings banks, Danish branches of foreign banks, asset managers, Danish securities dealers and investment funds. 

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