Danske Bank har mod betaling udarbejdet denne analyse af Arbejdernes Landsbank A/S
Arbejdernes Landsbank A/S (AL) is a non-listed Danish bank that caters mainly to private individuals, associations and small- and medium-sized enterprises. The bank operates a large nationwide branch network and services 350,000 customers. In 2021, AL acquired a majority stake in Vestjysk Bank A/S (Vestjysk Bank), which has allowed it to increase its customer base while gaining more exposure to the corporate segment. Following the acquisition, AL has been given status as a Systemically Important Financial Institution (SIFI) and will need to comply with increased MREL requirements to be phased in by 2026. Therefore, AL is looking to issue DKK9bn of senior non-preferred debt. This issuer profile provides an overview of AL, as well as its key credit strengths and weaknesses. We also include an ESG section towards the end of the document.
Overview
AL was founded in 1919 by 62 Danish trade union confederations and cooperatives. Despite its role as a workers’ bank, AL has traditionally been run as a commercial bank, though with the limitation that its shares cannot be listed on the stock exchange.
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