UPDATE 1-Danish banks seek $11.9 bln in state aid -ministry

* 50 banks seek DKK 63 bln in state aid by June 30 cut-off

* So far DKK 35 bln has been paid out under the scheme

* Banks were entitled to seek DKK 87 bln in total

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COPENHAGEN, July 1 (Reuters) - Fifty Danish banks applied for 63 billion crowns ($11.90 billion) in state support by the June 30 deadline for a scheme known as "Bank Package II", Denmark's Ministry of Economic and Business Affairs said.

"With the applications that have been received, by far the largest part of Danish banks will be covered," the ministry said in a statement.

So far 35 billion crowns has been paid out under the scheme which involves hybrid core capital loans to banks and other lending institutions, the ministry said.

The banks could have applied for a maximum of 87 billion crowns in support but not all banks chose to exercise their entitlement, the ministry said.

The Nordic region's biggest financial group, Nordea (NDA.ST)(NDA.CO), said last week that it had no need of state loans to support its Danish operations. [ID:nLO878332]

Except for Nordea and institutions taken over by a state company formed to take control of failed banks, banks taking part in the scheme have around 94 percent of total lending in Denmark.

Initially a 100-billion-crown package, the Danish government's hybrid capital loans are provided indefinitely with the purpose of shoring up banks' solvency ratios and confidence in the financial system.

Bank Package II followed an earlier support package that guaranteed retail customers' bank deposits.

The support measures stemmed from the financial crisis as Danish banks have been hit by Denmark's worst recession in more than 40 years. ($1=5.292 Danish Crown) (Reporting by John Acher; editing by Simon Jessop)