Provinsbanken was Denmark's fifth-largest bank in 1990 when it merged with Danske Bank and Handelsbanken (not affiliated with the Swedish Handelsbanken). Provinsbanken dates back to 1846, when Fyens Disconto Kasse was established by a group of Odense merchants under the leadership of Lorentz Bierfreund. It was the country's first private bank.^[1]