Fynske Bank

Denmark · owned by Independent (Denmark) · fynskebank.dk · 15 vendors

Fynske Bank A/S is a regional bank based in Denmark that provides banking products and services to private customers and small and medium-sized businesses. Its offerings include deposits, lending, guarantees, securities and currency trading, and advisory services for financing, pensions, investment, and real estate.

Resilience scores

Technology vendors

Insights

Last updated 2026-09-13 · revision 6

15 direct vendors, 220 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Migration Readiness: 5/10

Assessed by AI based on technology stack characteristics (cloud-native vs legacy, containerization, microservices), regulatory environment, data residency requirements, financial stability, and vendor lock-in risks. The score ranges from 0-10, where higher scores indicate better readiness for technology migration.

Fynske Bank exhibits medium migration readiness. A key enabler for migration is its strong and growing financial position, which provides the necessary capital to fund complex transformation initiatives. However, several significant challenges exist. The internal tech stack, comprising platforms like Netbank, Mobilbank, and Bank Connect, does not explicitly indicate cloud-native, containerized, or microservices architectures. This suggests a potentially more traditional or monolithic infrastructure, which would complicate and increase the cost of migration to modern cloud environments. The regulatory environment, particularly GDPR and Danish financial data residency requirements, imposes strict constraints on data handling, processing, and storage locations. These requirements add significant complexity and potential cost to any cloud migration strategy, especially if considering non-EU cloud providers. The "Vendor Lock-in Risk" is explicitly stated as "Unknown". While the data presents a contradiction with "Total Vendors: 0" versus the listed "Vendor HQ Countries", if significant vendor dependencies exist, the unknown lock-in risk could pose a substantial hurdle to migration efforts. Without clarity on the number of vendors, contract complexities, and the extent of integration, assessing this risk accurately is difficult. Overall, while financially capable, the technical and regulatory landscape, coupled with vendor ambiguity, suggests a moderately challenging migration path.

Compliance

5 in-scope frameworks identified; showing 3.

SOC 2 (source) — Assessment Required

While SOC2 is not mandatory, it's increasingly important for financial institutions providing digital services and handling customer data. As a bank offering online banking and digital services, SOC2 compliance would demonstrate strong internal controls. Risk is medium as it's voluntary but expected by enterprise customers and partners.

Evidence: https://fynskebank.dk/selvbetjening

NIS2 (source) — Assessment Required

As a banking institution in the EU with 220+ employees, Fynske Bank qualifies as an Essential Entity under NIS2. Banks are explicitly listed as critical infrastructure. Non-compliance can result in significant fines (up to €10 million or 2% of annual turnover) and operational restrictions. The directive requires comprehensive cybersecurity measures, incident reporting, and risk management frameworks.

Evidence: https://fynskebank.dk/om-fynske-bank/investor-relations

ISAE 3000 (source) — Assessment Required

ISAE 3000 may be relevant for Fynske Bank if they provide assurance services or require third-party assurance reporting for regulatory compliance. Financial institutions often need various assurance reports for regulatory purposes. Risk is medium as it depends on specific service offerings and regulatory requirements.

Financials

Three-year financials

Financial Resilience Score: 8/10

Fynske Bank exhibits a very strong balance sheet and capital position, with a total capital ratio of approximately 25-26% (well above regulatory minimums of ~14%) consisting entirely of CET1 capital. Liquidity is exceptionally strong, with an LCR of 363% at end-2022 and a loan-to-deposit ratio of just ~48%, reflecting a deposit-funded model with deposits of ~DKK 7.3bn against loans of ~DKK 3.3bn. The bank's ownership structure provides additional resilience, with Fonden for Fynske Bank holding 45% and providing a DKK 50m standby capital commitment. Profitability has been consistently positive through the cycle, including a record DKK 202m PBT in 2023 and DKK 164m in 2024. However, profits have declined for two consecutive years (down to DKK 127m in 2025) due to declining interest rates and heavy investment in growth (15.6% cost increase in 2024). Historical ROE before tax was modest (3-9% range), indicating efficiency challenges. The bank is small in absolute size (~DKK 8.8bn assets), geographically concentrated in Fyn and East Jutland, and faced strategic disruption from the failed Nordfyns Bank merger in 2025. Overall, the combination of fortress-like capital and liquidity buffers outweighs the modest profitability and concentration concerns.

Key strengths: Very strong total capital ratio of ~25-26%, all CET1, LCR of 363%, well above regulatory minimum of 100%, Loan-to-deposit ratio of ~48% indicating strong deposit funding, Supportive 45% ownership by Fonden for Fynske Bank with DKK 50m standby capital, Profitable through cycle including difficult 2022 bond market, Improving credit quality with impairment ratio declining from 5.7% (2018) to 4.2% (2022), Strong customer growth (~1,000 net new customers in 2024)

Risk factors: Profitability declining two years in a row (PBT DKK 202m → 164m → 127m), Cost growth of 15.6% in 2024 from heavy investment in expansion, Geographic concentration in Fyn and East Jutland, Sector concentration in real estate (13%), agriculture (8%) and SMEs, Failed merger with Nordfyns Bank in 2025 indicates strategic execution risk, Finanstilsynet 2024 inspection resulted in 2 orders, Small absolute size limits scale advantages, Bond portfolio (DKK 2.87bn) sensitive to interest rate movements

Revenue by geography

Revenue by product/service

Workforce by country

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