Danske Bank’s former chief executive Thomas Borgen was cleared by a Danish court on Tuesday of any liability for shareholder investment losses linked to the lender’s involvement in one of the world’s largest money-laundering scandals. A group of 155 institutional …
In the summer of 2018, a senior anti money-laundering official at Swedbank AB appeared anxious as he read reports that its competitor Danske Bank A/S could be fined by U.S. authorities for alleged crimes in the Baltics. “I’m afraid that …
OSLO/COPENHAGEN – Insurer Storebrand has agreed to buy the Norwegian unit of Danish pension provider Danica from Danske Bank, the companies said on Monday. Norway’s Storebrand will pay 2.01 billion Norwegian crowns ($221.4 million) for Danica Pensjonsforsikring AS, the sixth-largest …
A U.S. judge on Monday dismissed a lawsuit accusing Denmark’s Danske Bank A/S and four former top executives of defrauding shareholders by hiding and failing to stop widespread money laundering at its former Estonian branch. U.S. District Judge Valerie Caproni …
Sweden’s financial watchdog hit lender Swedbank with a record fine of 4 billion crowns ($386 million) on Thursday for serious deficiencies in its anti-money-laundering work and said the bank had withheld information from authorities. Sweden’s oldest retail bank saw its …
The ousted chief executive of Danske Bank A/S, Thomas Borgen, has been personally targeted in an investor lawsuit arguing he withheld information about potential money laundering that subsequently destroyed the lender’s market value. Deminor, a Brussels-based law firm, said on …
A group of international investors who manage trillions of dollars in assets has filed what it says is the first in a series of lawsuits against Danske Bank in connection with the money laundering scandal engulfing Denmark’s largest lender. The …
Swedbank AB acknowledged it will no longer be able to live up to its goal of paying out one of the highest dividend ratios in the Nordic finance industry. Sweden’s oldest bank, which is dealing with the fallout of a …
The largest ever money laundering scandal in Europe is rippling through the region’s banks. It began in the Baltics and has engulfed several Nordic lenders, notably Denmark’s Danske and Sweden’s Swedbank, who had large Baltic operations. Here are some facts …
A week after Swedbank AB fired its chief executive officer, the lender is parting ways with its chairman as a multibillion dollar money-laundering scandal forces top-level changes. Lars Idermark has decided to leave Sweden’s oldest bank and biggest mortgage lender …
