Banks, EU – CIS, Financial Services, Russia

International Internet Magazine. Baltic States news & analytics Saturday, 15.08.2020, 23:19

Russian cbank annuls license for Danske Bank's local unit

BC, Tallinn, 01.11.2019.Print version
Russia's central bank has annulled Danske Bank's banking license in the country, according to the Russian newspaper Kommersant information reports LETA/BNS.

The license was annulled following a request from the Danish lender. Danske Bank announced in February that it is closing its Baltic and Russian operations due to the money laundering scandal surrounding the lender.

According to the central bank, Danske's local bank was Russia's 240th biggest by assets.

It has been claimed that some 200 bn euros, the bulk of which appears to have come from uncertain sources, was channeled through Danske's Estonian branch between 2007 and 2015.

Due to the money laundering scandal, Danske is under investigation in Denmark, Estonia, France, Germany, the United Kingdom and the United States.

Search site