FIH Erhvervsbank A/S

FIH Erhvervsbank A/S (hereafter FIH) is the sixth-largest bank in Denmark in terms of total assets. FIH is an integrated corporate and investment bank, offering selected services within capital and advisory services to Danish corporates and operates internationally under the name “Finance for Danish Industry”. FIH is headquartered in Copenhagen and operates from four local offices in Jutland (Aalborg, Århus, Herning, and Fredericia). Year-end 2010, FIH had a total lending of approximately DKK billion (approx. EUR billion) spread on roughly 4.000 corporate clients.

FIH is owned by a consortium mainly composed of Scandinavian pension funds, with Danish pension funds ATP and PFA ultimately holding 49.95% and 19.98%, respectively and the remainder being held by Swedish insurance company Folksam (19.98%) and independent financial advisory firm C.P.Dyvig & Co (9.99%)

History

FIH was founded in 1958 by initiative from the Danish Government to provide medium and long term capital for the Danish industry. In the beginning, FIH was owned by the Danish Central Bank, selected domestic banks, insurance companies, and the Confederation of Danish Industries.

In 1988, FIH was listed on the Copenhagen stock exchange and in 1989, FIH was assigned its first credit rating by Moody’s Investors Service. In 1999, FI Holding A/S purchased FIH. FI Holding was established at this point – with the majority shareholder Swedbank owning 60 per cent of shares.

In June 2004, Kaupthing Bank...
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