These five banks paid the most tax: Here are Denmark's largest tax payers
DKK 112 billion. That is how much Danish companies paid in corporation tax in 2024. A significant share of this amount was paid by banks. See the top-paying companies.
This is how much banks paid in tax
Four banks made it to the top 4 on the 2023 open tax list. This year, however, Danske Bank, Forenet Kredit, Nordea Danmark and Jyske Bank were joined by Ringkjøbing Landobank.
This local, niche bank paid DKK 756 million in tax in 2024, taking tenth place.
In total, 15 Danish banks and mortgage credit institutions made it into top 100. Jointly, they contributed more than DKK 15 billion to the Danish state.
Having paid DKK 3.6 billion in total corporation tax for 2024, Danske Bank tops the list in the financial sector. Although this is more than one billion Danish kroner less than in 2023, it makes no sense to assess the banks' tax payments by comparing year-on-year on a stand-alone basis.
So says Klaus Mosekjær Madsen, Senior Economist at Finansforbundet.
"Tax payments are not based on a single financial year, but are affected by accrual and settlement of previous years' results. If you look at its financial statements, Danske Bank increased both its profit and tax from 2023 to 2024," he says and continues:
"The shifts in actual tax payments may therefore be related to the fact that 2022 was a very special year with extraordinary provisions for the Estonia issue, which have a delayed impact."
Novo is in a league of its own
Although banks account for a large part of total corporation tax paid, no company comes close to Novo Holdings.
In 2024, Denmark's most valuable company contributed as much as DKK 21.7 billion, corresponding to almost 20 per cent of total corporation tax paid.
Following the list's runner-up, Kirkbi, i.e. the money bin of the Lego family, Danske Bank, Forenet Kredit and Nordea paid the most in 2024.
See the ranking of the Danish banks and mortgage credit institutions below.