Danske Bank CEO resigns over money laundering scandal

COPENHAGEN (Reuters) - Danske Bank said on Wednesday that Chief Executive Thomas Borgen would resign due to a scandal related to past money laundering through its Estonian branch.

"It is clear that Danske Bank has failed to live up to its responsibility in the case of possible money laundering in Estonia. I deeply regret this," Borgen said in a statement.

The bank also lowered its expectations for annual net profit to 16-17 billion Danish crowns from 18-20 billion.

(Reporting by Jacob Gronholt-Pedersen; editing by Jason Neely)