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The JAK Members Bank, or JAK Medlemsbank, is a cooperative, member-owned financial institution based in Skövde, Sweden, and based on a concept that arose in Denmark in 1931. [ 1 ] [ 2 ] [ 3 ] JAK is an acronym for Jord Arbete Kapital in Swedish or Land Labour Capital , the factors of production in classical economics .
In Denmark, Finland, Norway, Germany, and the United Kingdom, the bank's operations are focused on corporate and investment banking services to corporate and institutional clients. The bank was founded in 1972 by the Swedish Wallenberg family , which is still SEB's largest shareholder through major investment company Investor AB .
Sweden is an export-oriented mixed economy featuring a modern distribution system, excellent internal and external communications, and a skilled labor force. Timber, hydropower and iron ore constitute the resource base of an economy heavily oriented toward foreign trade. Sweden's engineering sector accounts for 50% of output and exports.
Danske Bank A/S (pronounced [ˈtænˀskə ˈpɑŋˀk], lit. ' Danish Bank ') is a Danish multinational banking and financial services corporation.Headquartered in Copenhagen, it is the largest bank in Denmark and a major retail bank in the northern European region with over 5 million retail customers. [2]
The bank was founded as Skandinaviska Kreditaktiebolaget, which roughly translates to "Scandinavian Credit Ltd.". During the early 1900s the bank underwent rapid expansion through the following mergers: Industrikreditaktiebolaget i Stockholm in 1907, Skånes Enskilda Bank in 1910, and Sveriges Privata Centralbank in 1917.
The National Bank's first home next to Børsen on Slotsholmen, c. 1850. The National Bank's second home on Holmens Kanal 17 Former branch (1924-1968) on Jernbanegade 27 in Kolding [5]: 134 The bank was established on 1 August 1818 by King Frederick VI of Denmark. The private bank was given a 90-year monopoly on currency issue, which was ...
This shows that Sweden would not lose in terms of monetary policy autonomy, as the Swedish Central Bank already closely follows the rates set by the European Central Bank. When adopting the euro, Sweden would swap this autonomy on paper for a real influence on the European monetary policy thanks to the gaining of a seat in the ECB's governing ...
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