Another Danish Fall

The Danish bank EBH was the 8th victim of the financial turmoil. The bank was forced to surrender.

EBH Bank gave a statement that it had serious economical problems on Thursday. The bank is not up to the standards of Danish regulations which has sparked the involvment of finanstilsynet. However the bank will continue its business for the time being.

According to TT the bank has a week to gather enough capital. If the demands of the regulators is not made EBH will loose its licence. The banks CEO Jens Nielsen said that it is very unlikely that he will gather enough capital in sych a short period of time.

"In the current Danish environment it is very difficult to get a hold of half a billion danish kronor" EBH, Jens Nielsen

The Danish newsagency Ritzau have made a list on all crises banks during 2008. The mess started in January when Bank Trelleborg due to several years of huge increases in ledning, the bank was taken over by Sydbank.

Roskilde Bank was the next victim. In July the bank showed insolvency and the month after the National Bank took over responsobility and operations. During fall Roskilde bank will be divided among three other banks.

In September, Nykredit took over the smaller competitor Forstaedernas Bank and Svenska Handelsbanken took charge in Lokalbanken.

The Danish government put in place a rescue package for the banks after seeing the possibility of even more bankrupcies. Several banks used this package to survive.