on
Slotsholmen, c. 1850. 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 extended in 1907 out to 1938. In 1914, the National Bank became the sole banker for the Danish government. The bank became fully independent of the government in 1936. The National Bank established a network of branches in Denmark's principal cities, but phased them out in the second half of the 20th century as they were no longer needed due to evolving practices and technologies. The last two branches, in
Aarhus and
Odense, closed in 1989. Until 20 December 2016, Danish and
Faroese banknotes were previously printed at Danmarks Nationalbank's Banknote Printing Works. The printing of banknotes was then
outsourced due to a reduced demand for cash, and cut in expenses of 100 million kroner until 2020. ==Building==