Danske Bank selling Estonian private loans unit

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Danske Bank, which has been embroiled in a major money laundering scandal, has agreed to sell its portfolio of Estonian private loans to LHV Pank in a deal worth $410 million euros (£324.1 million), LHV said on Monday.

Danske Bank said last year it had begun closing parts of its Estonian business which has been at the centre of an investigation into alleged money laundering and prompted a U.S. criminal investigation.

Danske is under investigation in Denmark, Estonia, Britain and the United States over some 200 billion euros ($226 billion) in payments from Russia, ex-Soviet states and elsewhere that were found to have flowed through its Estonian arm.

Via Reuters

 

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