Nojatuolistrategi
Ylipäällikkö
Danske Bankin Viron konttorin rahanpesukone yskii.
https://www.ft.com/content/0d2b3bf6-812f-11e8-bc55-50daf11b720d
Aikoinaan Danske osti Sammon. Olisiko pian aika Sammon ostaa Danske?
Nordea nousisi yhdistyneessä pankissa Euroopan raskaaseen sarjaan.
Political pressure is mounting on Danske with the Danish government threatening to confiscate any profits it made while investors worry about the potential for the US to start investigating alongside Denmark, Estonia and France. Deutsche Bank was fined $630m by US and UK regulators last year for so-called mirror trades allegedly used to launder $10bn out of Russia. HSBC in 2012 paid $1.9bn for laundering at least $880m of drug money as well as $660m of sanctions breaches.
Danske’s scandal is potentially just as large. Bill Browder, a prominent critic of the Russian government, and Berlingske, the Danish newspaper that has published many of the allegations against Danske, both claim that about DKr53bn ($8.3bn) of suspicious transactions flowed through its Estonian branch. Danske declined to comment on the amount but executives have acknowledged that it was “somewhat larger” than previous estimates, which were about DKr25bn ($3.9bn).
Danske made its move into Estonia in 2007 when it bought Sampo, Finland’s third-largest bank, which had a substantial Baltic portfolio. Estonia, Latvia and Lithuania had all positioned themselves as potential gateways for money between the former Soviet Union and the EU.The business was lucrative. Danske’s Estonia business represented just 0.5 per cent of its assets in 2013 but accounted for 2 per cent of profits.Its non-resident portfolio — dealing with customers from outside Estonia — made profits of DKr325m that year, 99 per cent of the total in Estonia. Its return on allocated capital was 402 per cent versus 7 per cent for the bank as a whole. Danske says in large part this was because of the Estonian business not requiring much capital.
Danske’s scandal is potentially just as large. Bill Browder, a prominent critic of the Russian government, and Berlingske, the Danish newspaper that has published many of the allegations against Danske, both claim that about DKr53bn ($8.3bn) of suspicious transactions flowed through its Estonian branch. Danske declined to comment on the amount but executives have acknowledged that it was “somewhat larger” than previous estimates, which were about DKr25bn ($3.9bn).
Danske made its move into Estonia in 2007 when it bought Sampo, Finland’s third-largest bank, which had a substantial Baltic portfolio. Estonia, Latvia and Lithuania had all positioned themselves as potential gateways for money between the former Soviet Union and the EU.The business was lucrative. Danske’s Estonia business represented just 0.5 per cent of its assets in 2013 but accounted for 2 per cent of profits.Its non-resident portfolio — dealing with customers from outside Estonia — made profits of DKr325m that year, 99 per cent of the total in Estonia. Its return on allocated capital was 402 per cent versus 7 per cent for the bank as a whole. Danske says in large part this was because of the Estonian business not requiring much capital.
https://www.ft.com/content/0d2b3bf6-812f-11e8-bc55-50daf11b720d
Aikoinaan Danske osti Sammon. Olisiko pian aika Sammon ostaa Danske?
Nordea nousisi yhdistyneessä pankissa Euroopan raskaaseen sarjaan.
