4/12  In the SME and microenterprise sector, lending soared in 2004 and this trend can be expected to continue in the years to come. For many banks SMEs would remain one of the preferred areas for the allocation of credits.
Denmark has one of the largest and most liquid covered bond markets with a stable institutional framework and a very strong track-record of market liquidity and credit quality, including throughout the entire financial crisis. This track-record has been confirmed in a recent comprehensive study by the European Banking Authority (EBA).