|Bid||135.95 x 0|
|Ask||136.15 x 0|
|Day's Range||134.20 - 137.75|
|52 Week Range||124.35 - 251.90|
|Beta (3Y Monthly)||0.65|
|PE Ratio (TTM)||7.51|
|Earnings Date||Feb 1, 2019|
|Forward Dividend & Yield||10.00 (7.31%)|
|1y Target Est||191.36|
The whistleblower who helped reveal suspected money laundering involving Danske Bank (DANSKE.CO) told Denmark's parliament on Monday that the bank had not heeded his warnings and had later offered him money to keep quiet. Suspicious payments totalling 200 billion euros (177.7 billion pounds) through Danske Bank's Estonian branch between 2007 and 2015 have sparked investigations in Denmark, Estonia, Britain and the United States and cost the chief executive and chairman of Denmark's largest lender their jobs. Howard Wilkinson, the head of the bank's trading unit in the Baltics from 2007 to 2014, said that Danske Bank's management had not taken his suspicions of money laundering seriously and he did not now expect investigations to lead anywhere.
Howard Wilkinson, the former Danske executive who warned bank managers in Copenhagen about the questionable transfers in 2013 and 2014, told Denmark’s parliament that of the €200bn of potential dirty money that flowed through its Estonian branch, €150bn went through the “US subsidiary of European bank”. Mr Wilkinson also hit out at “large US bank 1” — known to be JPMorgan Chase — which stopped its correspondent banking relationship with Danske in 2013 over concerns about the non-resident portfolio in Estonia at the heart of the scandal which ran from 2007 until 2015.
Danske Bank has been caught up in one of the largest-ever money laundering scandals. Howard Wilkinson, the whistleblower who first alerted Denmark's biggest bank to the problem, testified before the Danish parliament on Monday. Most of the payments came from Estonia, Russia, Latvia and Cyprus and Britain, the report said.
Danske Bank (DANSKE.CO) has been caught up in one of the largest-ever money laundering scandals. Howard Wilkinson, the whistleblower who first alerted Denmark's biggest bank to the problem, testified before the Danish parliament on Monday. Most of the payments came from Estonia, Russia, Latvia and Cyprus and Britain, the report said.
Danish lawmakers are now peppering the head of the FSA with questions about why more wasn’t done to stop the alleged laundering at Danske. Jesper Berg, the head of the Danish FSA, tried to capture the current mood with the following words: “Two years ago there were lawmakers who wanted us to hug bankers.
Stephen Kohn, Wilkinson’s lawyer and a founding director of the National Whistleblower Center, will join his client.Jesper Nielsen, Danske’s interim CEO, will represent the bank after Thomas Borgen was escorted out of the building last month for his role in the scandal.Jesper Berg, the director general of the Danish FSA, will testify after the agency was placed under investigation by the European Banking Authority. The Danish parliament will hear testimony on who knew what, and when, amid evidence that much of about $230 billion that flowed through an Estonian unit of Danske between 2007 and 2015 was illicit. Wilkinson’s lawyer says the Briton is “fully committed” to cooperating with the Danish parliament.
Howard Wilkinson — who alleged to Danske bosses that branch customers included shell companies that were fronts for Russian intelligence and relatives of Vladimir Putin, the Russian president — was cleared by the bank to talk to various agencies including the Department of Justice, Securities and Exchange Commission, and the Treasury’s Financial Crimes Enforcement Network, or FinCEN, according to people familiar with the situation. Mr Wilkinson, a British citizen who will testify to both the Danish and EU parliaments this week, previously signed a non-disclosure agreement with the bank that Danske must waive before he gives evidence. The bank gave permission to Mr Wilkinson’s lawyer each time to meet US authorities.
During the past week, we learned that investigators are looking into the role played by correspondent banks in the scandal. Here are some of the other main developments in the Danske story over the past week:There was some tension between Danske and the banker turned whistle-blower. Howard Wilkinson’s lawyer says Danske warned his client that he faces legal risks if he testifies to lawmakers.
The Justice Department investigators have also asked questions about JPMorgan Chase & Co.’s work with the branch, another person said. The lenders, among the world’s largest, were correspondent banks for the Tallinn, Estonia, branch of Danske Bank A/S that is the focus of multiple international investigations.
U.S. criminal investigators have requested information from Deutsche Bank, Bank of America and JPMorgan about transactions they handled for Danske Bank's Estonia branch, which is at the centre of a money laundering scandal, Bloomberg reported on Friday citing sources. Danske Bank said last month it faced a U.S. criminal investigation into as much as 200 billion euro ($230 billion) of suspicious transactions at its Estonian branch between 2007 and 2015. The Bloomberg report said that there were no signs that Deutsche Bank, Bank of America and JPMorgan, which were correspondent banks for Danske's Estonian branch, were themselves targets for the investigation.
U.S. criminal investigators have requested information from Deutsche Bank, Bank of America and JPMorgan about transactions they handled for Danske Bank's Estonia branch, which is at the center of a money laundering scandal, Bloomberg reported on Friday citing sources. Danske Bank said last month it faced a U.S. criminal investigation into as much as 200 billion euro ($230 billion) of suspicious transactions at its Estonian branch between 2007 and 2015. The Bloomberg report said that there were no signs that Deutsche Bank (DBKGn.DE), Bank of America (BAC.N) and JPMorgan (JPM.N), which were correspondent banks for Danske's Estonian branch, were themselves targets for the investigation.
as American prosecutors examine their handling of cross-border payments for the Danish lender. acted as correspondent banks, providing a link to the US financial system for Danske’s tiny Estonian branch, which is at the heart of the biggest money-laundering operation ever uncovered.
Estonia’s prime minister and central bank chief called for a European body to combat money laundering as they conceded the €200bn Danske Bank scandal had hurt the image of the Baltic country. Prime minister ...
Sterling struggled to rally even after Prime Minister Theresa May said an impassioned debate led to backing from her top ministers at a lengthy meeting on Wednesday. Brexit negotiators secured a deal on paper in Brussels Tuesday, yet the currency has fluctuated on worries that lawmakers could reject the agreement.
Extraordinary general meeting in Danske Bank A/S Company Announcement 14 November 2018 Danske Bank A/S will hold an extraordinary general meeting on Friday, 7 December 2018.
Danske Bank's (DANSKE.CO) 200 billion euro (£173.9 billion) money laundering scandal might be the "tip of the iceberg" and investigators should examine whether major Western banks played a role, a lawyer for the whistleblower said. Stephen Kohn, a partner at U.S. law firm Kohn, Kohn and Colapinto who is representing Danske whistleblower Howard Wilkinson, told Reuters that Danske may be only a bit player in a scheme to move wealth from countries like Russia to the West. "It looks like the tip of the iceberg," he told Reuters on the sidelines of a two-day London OffshoreAlert conference on financial intelligence and investigations.
Danske Bank's (DANSKE.CO) 200 billion euro ($225 billion) money laundering scandal might be the "tip of the iceberg" and investigators should examine whether major Western banks played a role, a lawyer for the whistleblower said. Stephen Kohn, a partner at U.S. law firm Kohn, Kohn and Colapinto who is representing Danske whistleblower Howard Wilkinson, told Reuters that Danske may be only a bit player in a scheme to move wealth from countries like Russia to the West. "It looks like the tip of the iceberg," he told Reuters on the sidelines of a two-day London OffshoreAlert conference on financial intelligence and investigations.
European Union governments have reached a preliminary deal to clamp down on money-laundering by strengthening bank supervision, but do not address key loopholes, documents show. A series of money-laundering cases at banks in several EU states have forced regulators to act after public outcry. The preliminary deal, which could be finalised before EU finance ministers are due to meet in December, confirms proposals made by the European Commission in September to give more powers to the European Banking Authority (EBA).
Danske is now the target of criminal investigations in multiple jurisdictions, including in the U.S. The case has ended the careers of its top executive and chairman, and wiped about $15 billion off the bank’s market value this year. Danish lawmakers now want the financial regulator and police “to consider the Sampo lead as part of their investigations,” according to Torsten Schack Pedersen, the ruling Liberal Party representative on the parliament committee that oversees bank laws. According to a Sept. 19 report published by Danske, roughly a quarter of about 6,200 non-resident accounts that were deemed risky were inherited from the Sampo unit.
The pound fell by as much as 1 per cent versus the dollar on Monday, as doubts intensified over Prime Minister Theresa May’s ability to win parliamentary support for a Brexit deal she is trying to negotiate with the EU. While broad strength in the US currency was steepening the pound’s drop, sterling was also weaker against the euro in a sign that concern over the risk of the UK falling out of the EU next March without a deal was souring sentiment. It rebounded from its lows after reports that Michel Barnier, the EU’s chief negotiator with the UK on the terms of separation, said the main elements of an exit treaty text were ready to go before the cabinet in London.
Brussels has ordered a pan-European probe of Denmark, Latvia and Estonia over alleged regulatory failings including in the €200bn Danske Bank money-laundering scandal. The European Commission has used its powers to order the European Banking Authority to investigate alleged breaches of EU law, in a sign of the alarm over suspected Russia-linked hot money flows. Danske — Denmark’s biggest lender — already faces criminal probes domestically and in the US and Estonia over the affair, which has cost Thomas Borgen the job of chief executive.
As Danske finds itself at the center of one of Europe’s worst ever money laundering scandals, A.P. Moller Holding A/S used its roughly 20 percent stake in the bank to force Chairman Ole Andersen out. The stunning announcement follows the 62-year-old Andersen’s failed attempt to win approval for his chosen candidate for chief executive officer. The sheer scale of Danske’s dirty money scandal, much of which overlapped with his tenure, also made Andersen’s continued presence untenable.
Danske Bank's (DANSKE.CO) largest shareholder, the Maersk family, has ousted the lender's chairman after a money laundering scandal that has also forced out its chief executive. A.P. Moller Holding, which controls about 21 percent of the share capital in the bank, has nominated Karsten Dybvad, who currently heads the Confederation of Danish Industry, to replace Ole Andersen as chairman of Denmark's largest bank. The move is a rare example of Denmark's Maersk family, which controls shipping giant A.P. Moller-Maersk (MAERSKb.CO) through A.P. Moller Holding, openly flexing its muscles to seek change at one of its investments.
Today, Danske Bank A/S has received a request from A.P. Møller Holding A/S to convene an extraordinary general meeting in accordance with Article 8.2 of the Bank’s Articles of Association. The purpose of the extraordinary general meeting is the election of two new members for the Board of Directors and according to the request, A.P. Møller Holding A/S nominates Karsten Dybvad, CEO of the Confederation of Danish Industry and Jan Thorsgaard Nielsen, CIO of A.P. Møller Holding A/S as candidates for the Board of Directors of Danske Bank A/S.