Danske's Laundering Scandal Drags Down Smaller Danish Banks
- Shares in Jyske Bank, Spar Nord, Sydbank have underperformed
- Funding costs may rise due to Danske spill-over, ABG says
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The money laundering scandal at Danske Bank A/S is having stock market repercussions that go beyond Denmark’s biggest lender.
The country’s other banks, which weren’t involved in Danske’s dubious activities in Estonia, have underperformed their European peers in recent months, a development that can in part be blamed on their local rival.