Northern Bank goes Danish!

The Northern Bank, and the National in the Republic, is finally to get a new owner – the Danske Bank from Denmark.

  • peteb

    Sold by the Australians to the Danish.. so it goes.

  • DCB

    That would explain their pulling out of the london market

  • The Devil

    Good !

  • peteb

    The NY Times puts all the necessary info in their headline – National Australia Bank Sells 2 Units in Ireland to Danske

  • Michael Shilliday

    Lets hope the Danes put some effort into the Northern.

  • Butterknife

    Let us hope that cheques etc can now be credited to their owners within several hours and not the normal several days as so often was the case – hence a profit making scheme for these banks by keeping the interest

  • willowfield

    Yes, that is extremely irritating.

    I wonder will they stop all the over-the-top charging.

  • PS

    As far as the cheques thing i almost had to laugh on one occasion when they told me that it would take my cheque two days to get from a branch in Belfast to a branch of the same bank in Newry. i could probably have walked the distance with the cheque in two days!

  • DCB

    Danske have an exclent reputation for retail banking in their home market, so its probably good for the consumer.

    Shame they’re not playing in london any more as they would fund anything that moved.

  • willowfield

    I remember lodging a cheque for £2000 that I had withdrawn from the Nationwide Building Society (in order to buy a car using cash).

    The cashier refused to supply me with the cash, stating that it would take 5 days for the cheque to cash.

    I pointed out that the possibility of a cheque from the Nationwide Building Society, one of the largest and most stable financial institutions in the country, was hardly likely to bounce.

    She wasn’t open to my argument.

  • Lafcadio

    …and Danske’s share price immediately tumbled, as investor’s were unconvinced that they can make enough money from a cross-border venture..

    However, it’s unlikely that the customer will benefit – banking in NI is a cosy de facto cartel, where over-charging is endemic, and almost unchallenged. And I can’t imagine that Danske’s Scandinavian sense of justness will overcome the lure of easy cash in a cross-border merger where they may be struggling to make a sufficient return..

  • Lafcadio

    sorry, “investors”..