BUSINESS Danske Bank sets aside nearly 2 bn euros for expected fines

BUSINESS

Danske Bank sets aside nearly 2 bn euros for expected fines

AFP

18:18, October 27, 2022

Danske Bank, which is under investigation by Danish and US authorities, said Thursday it had set aside an additional 14 billion kroner (1.9 billion euros) to cover expected fines related to massive suspected money laundering via its Estonian branch.

People walk past a branch of Denmark's Danske Bank in Tallinn, Estonia, on September 5, 2017. (File photo: AFP)

"The discussions with US and Danish authorities related to the Estonia matter are now at a stage where Danske Bank can reliably estimate the total financial impact of a potential coordinated resolution amounting to a total of DKK 15.5 billion" or $2.1 billion, the bank's chief executive Carsten Egeriis said in a statement.

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