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Danske Bank elects new chairman to steer bank through crisis

Reuters  |  COPENHAGEN 

By Teis JensenCOPENHAGEN (Reuters) - Danske Bank elected the favoured candidate of its top shareholder as its new chairman on Friday to help steer the Danish lender through a multi-billion euro money laundering scandal. Authorities in Denmark, Estonia, Britain and the United States are investigating payments totalling 200 billion euros ($229 billion) made through Danske Bank's tiny Estonian branch between 2007 and 2015.The threat of a heavy fine from the U.S. Department of Justice has sent Danske's shares down almost 50 percent since March, erasing around $15 billion of market value and ...

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First Published: Sat, December 08 2018. 14:48 IST