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Danske Has About $2.7 Billion as Buffer Against Fines, CEO Says

  • Bank is continuing to add to reserves amid laundering case
  • Danske is looking into non-core asset sales, Nielsen says
Jesper Nielsen
Jesper NielsenPhotographer: Jasper Juinen/Bloomberg
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Danske Bank A/S has built a capital buffer of as much as $2.7 billion to absorb potential fines as it deals with the fallout of its role in one of Europe’s worst ever money laundering scandals.

Acting Chief Executive Officer Jesper Nielsen says the amount “significantly” exceeds what Denmark’s regulator has ordered Danske to hold in connection with the laundering case. Speaking in an interview on Monday, he also said the bank is continuing to build that reserve.