Danske Bank to close Baltic operations

Danske Bank A/S will close its operations across the Baltic states and in Russia after authorities in Estonia kicked out the Danish lender amid a deepening money-laundering scandal.

The Financial Supervisory Authority in Tallinn took the extraordinary step on Tuesday of ordering Danske to close its operations in the Baltic country. The agency is giving Denmark’s biggest bank eight months to return deposits to customers and either sell or transfer loans to another lender.

via Bloomberg