From Postal Savings Bank to Danske Bank Group
Sampo Bank's operations started in 1887 with the Postal Savings Bank, which was owned by the Finnish Government and accepted deposits from the public at post offices. The Postal Savings Bank's assets were initially invested in government bonds but after the Second World War, the banking business gradually expanded to lending aimed at energy and industrial enterprises and residential construction.
The introduction of the first modern payment system, the postal giro, during the Winter War in 1939 was a significant step. The Postal Savings Bank was the first enterprise in Finland to enter the computer age in 1958 as the bank adopted an IBM "electric brain" called Ensi.
The Postal Savings Bank, which operated as a state enterprise, was renamed Postipankki in 1970. The bank became a state-owned limited company in 1988 and started to operate as a full-service bank similar to private commercial banks.
Postipankki and Finnish Export Credit merged to form Leonia in 1997
The state-owned companies Postipankki and Finnish Export Credit merged into a new company in 1997 and became the Leonia Group the next year.
Leonia and the Sampo Insurance Company merged at the end of 2000, and the present name Sampo Bank was introduced in 2001.
In October 1999 the shareholders of the Sampo Insurance Company and the Finnish government decided to merge Sampo and Leonia into a new full-service financial group. The merger took place on the last day of the year 2000. The co-operation with Finnish Post, which dated back to the Postipankki days, also ended in 2000.
As part of the new group, the bank initially operated under the name Leonia Bank. The name was changed to Sampo Bank in 2001.
Mandatum Bank joins Sampo in 2001
Mandatum Bank joined the group in 2001. It had started its operations in 1998 as the result of a merger between Interbank Osakepankki and Mandatum & Co. Interbank Osakepankki had been established in 1988 and Mandatum & Co in 1992.
After the merger between Sampo and Mandatum, Sampo Bank specialised in investments and savings. Sampo became the country's leading investment-focused bank, while Mandatum continued on its existing track and became the most valued private bank in Finland.
Expansion to the Baltic countries in the 2000s
Sampo started its banking business in Estonia after acquiring Optiva Bank from the Estonian Central Bank in the summer of 2000. Sampo's banking business in Lithuania started the same year with the acquisition of the entire stock of Lietuvos Vystymo bankas. In Latvia, Sampo acquired Maras Banka in 2004. The Estonian bank is called AS Sampo Pank, the Latvian bank is Sampo Banka AS and the Lithuanian bank is UAB Sampo Bankas.
Sampo Bank becomes a part of Danske Bank Group in 2007
In November 2006 the Danish company Danske Bank A/S announced its acquisition of Sampo Bank from Sampo plc. The acquisition was confirmed in February 2007 after the required official permits were obtained.
Through the acquisition, all companies belonging to Sampo Bank Group, such as the Finnish bank Sampo Bank plc, its subsidiary banks in the Baltic States and Russia, as well as several investment service companies including Mandatum Asset Management Ltd, Sampo Fund Management Ltd, Mandatum & Co Ltd and Mandatum Stockbrokers Ltd became parts of the Danske Bank Group.
Re-branding in 2012
During the year 2012 Danske Bank Group decided to unite all banking activities under one common brand. As a part of this process the name of Sampo Bank was changed to Danske Bank in November 15th, 2012.