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Money laundering scandal puts Danske Bank rating under pressure, says DBRS

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Money laundering scandal puts Danske Bank rating under pressure, says DBRS

Money laundering scandal puts Danske Bank rating under pressure, says DBRS
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TT NEWS AGENCY(Reuters)
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COPENHAGEN (Reuters) - Weakening investor confidence in Danske Bank <DANSKE.CO> linked to allegations of money laundering via its Estonian business could hurt the bank's credit rating, DBRS said on Tuesday.

"DBRS would expect Danske to receive a large fine given the prolonged period of time and the very high estimated amount of money transferred through the non-resident portfolio in Estonia," the rating agency said in a statement.

"A substantial fine, especially if accompanied by weakening in investor confidence, could lead to negative rating pressure," it said.

DBRS has an 'A'-rating on Danske Bank's long-term issuer rating.

(Reporting by Jacob Gronholt-Pedersen; editing by John Stonestreet)

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