JUST IN: Danske Bank down 5 percent after investors reject independent investigation. More here:
COPENHAGEN - Danske Bank’s annual shareholder meeting extended into the fifth hour on Monday as retail investors expressed their discontent over the bank’s involvement in one of the world’s biggest money laundering scandals.
Denmark’s largest bank is under investigation in the United States, Denmark, Estonia, France and Britain over 200 billion euros in payments that were found to have flowed through its Estonian branch from Russia, former Soviet states and elsewhere between 2007 and 2015. “The executive board has decided to waive the bonuses that could have been paid for 2018,” new Chairman Karsten Dybvad said at the meeting in Copenhagen.Danske’s share price halved in 2018 but has stabilized this year, with no major new revelations about the bank having emerged as other lenders have become entangled in the scandal, including Deutsche Bank and Swedbank.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Deutsche Bank, Investors Bank subpoenaed for Trump Organization records by New York attorney generalMichael Cohen told Congress that Donald Trump inflated his assets to improve his odds of buying the National Football League's Buffalo Bills, a gambit that eventually failed. Late Monday night, the office of New York Attorney General Letitia James subpoenaed Deutsche Bank and Investors Bank for
Read more »
Japan's regional bank lobby urges BOJ to focus on rising costs of easingJapan's regional bank lobby on Wednesday called on the central bank to focu...
Read more »
Israel's Bank Hapoalim fourth-quarter profit sinks on U.S. tax probe provisionIsrael's Bank Hapoalim on Monday reported sharply lower quarterly net profi...
Read more »
Rep. Swalwell on impeachment: I think we’ll do the right thing if Trump crossed a red lineThe Attorney General of New York has launched a new probe of the President's real estate transactions, issuing subpoenas on Monday night to two major banks connected to the Trump Organization: 'Investors Bank' and 'Deutsche Bank' in Germany.
Read more »
UK banks’ Brexit flak jackets look durableThe Bank of England has told some lenders to triple their liquid assets in case of a hard Brexit, according to the FT. Lenders have quadrupled their easy-to-sell securities to 1 trillion pounds over a decade. Standby central bank funds provide extra armour in a no-deal scenario.
Read more »
Who Will Trust Facebook Bank?Following a significant data breach, a titanic loss of consumer trust, calls by numerous politicians for regulation, and a massive service outage, Facebook wants to become a bank issuing its own cryptocurrency. Who will trust Facebook Bank?
Read more »
Carry on - central bank signals leave 'carry' traders chasing moreCollapsing asset price volatility has turned 'carry trading' into one ...
Read more »
Carry on: central bank signals leave 'carry' traders chasing moreCollapsing asset price volatility has turned 'carry trading' into one ...
Read more »