Estonia kicks out Danske Bank

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By Jasper Cox
19 Feb 2019

The Estonian Financial Services Authority this week ordered Danske Bank to leave the country. The Danish lender replied that it would exit the Baltics and Russia as a whole. Meanwhile, the Estonian regulator and its Danish counterpart are under investigation for a possible breach of European Union law in relation to Danske’s money laundering scandal.

Finantsinspektsioon, the Estonian regulator, issued a precept to Danske on Tuesday, and the bank must now cease operations in Estonia within the next eight months.

“We have every right to put an end once and for all to this very exceptional and unfortunate case, as serious and large ...

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