Merkur Cooperative Bank

Location Denmark
Key figures Impact story Impact story


Merkur Cooperative Bank is a Danish values-based bank that combines classical banking with a vision of a sustainable society. In order to move towards a sustainable society the bank has lending criteria that includes environmental, social and ethical aspects, in addition to financial considerations.

The bank’s main objectives are:

  • To give and facilitate financial advice and financing to profit-making enterprises within sustainable production, and not-for-profit institutions and associations within cultural and social fields;
  • To lend to and arrange mortgages for individual customers and to provide these customers with financial services that reflect its vison of a sustainable society.

The main part of Merkur Cooperative Bank´s combined loans are in environmentally oriented businesses as well as in social and cultural sectors.

Transparency is key. Therefore, you can see all of the bank’s lending business and not–for profit clients on a map with a small description for each, at My Money Does Good.


The first steps towards the founding of Merkur Cooperative Bank were taken in 1982 with the forming of a credit and loan association. In 1985 Merkur merged with another independent initiative to form the Co-op Bank, and received a banking license. Merkur opened its first office in Aalborg in 1985. In 1992 it established a branch in Copenhagen (which became Head Office in 2004) and is nowadays present in the four major cities of Denmark.

Board of Management

  • Charlotte Skovgaard, Chief Executive Officer
  • Alex Andersen, Chief Financial Officer

Market Focus, Products and Services

Merkur Cooperative Bank provides a full range of financial services, including savings and current accounts (available with Visa and/or debit cards), payment services, online banking, pension schemes as well as impact investment and socially responsible investment products – the latter in collaboration with Triodos Bank.

Furthermore, Merkur has established two separate entities:

  • The Merkur Foundation: an instrument to work with gifts and donations in a manner equivalent to how the cooperative bank works with deposits and loans;
  • Merkur Development Loans Ltd: to provide loans to SMEs and cooperatives in developing countries in order to promote sustainability and provide financing on fair conditions.

Key figures for Merkur Cooperative Bank

* Figures in USD million
** Based on local currency
Total Assets554569446393415
Funds Under Management15714210700
Total Assets and Funds Under Management711711553393415
Total Assets and FUM Growth (One Year)**4.91%13.30%45.14%5.52%5.50%
Loans (net)258282237209223
Loans to Total Assets46.5%49.6%53.3%53.2%53.7%
Loan Growth (One Year)**-4.07%4.55%17.13%4.69%5.79%
Client Funding479493379336354
Client Funding to Total Assets86.5%86.7%85.1%85.6%85.3%
Client Funding Growth (One Year)**2.00%14.57%16.33%5.87%6.93%
Equity to Total Assets8.7%8.9%10.1%9.3%9.0%
Tier 1 Capital Ratio16.0%14.5%15.4%14.1%13.8%
Total Revenue21.619.020.816.720.0
Net Income0.5-
Return on Assets0.08%-0.50%0.60%0.30%0.25%
Return on Equity0.97%-5.90%7.10%3.30%2.92%
Cost to Income Ratio84.7%88.7%70.7%79.8%72.6%