Danske Bank A/S is telling corporate clients to think hard about what to do with their excess cash before Dec. 31, because Denmark's biggest lender doesn't want it in deposit accounts.
After a world-record-setting half decade of negative interest rates, Denmark still has a few surprises up its sleeve that show how such a monetary regime works in practice. Though corporate clients need to pay to place their savings with the bank, Danske is struggling to deal with near-record amounts of deposits.
The bank's deposits have risen 11% over the past 21 months, reaching 914 billion kroner ($145 billion) at the end of June (excluding repurchase agreements), second-quarter results show. Danske said that it's encouraging clients to place excess cash in other products offered by the bank, but declined to provide more details.
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