October 1, 2019 / 7:23 AM / 4 months ago

Danske Bank closes down its banking activities in Estonia

FILE PHOTO: Danske Bank sign is seen at the bank's Estonian branch in Tallinn, Estonia August 3, 2018. REUTERS/Ints Kalnins/File Photo

COPENHAGEN (Reuters) - Danske Bank (DANSKE.CO) said its Estonian business had entered into liquidation on Tuesday after the country’s financial regulator in February ordered it to close its branch at the center of one of the largest ever money laundering scandals.

“Danske Bank has now essentially closed all banking activities in Estonia in accordance with the plan agreed with the Estonian FSA,” said Executive Vice President and chairman of the Liquidation Committee, Frederik Bjoern, in a statement.

All Danske Bank logos and signs will be removed from the head office building in Tallinn in the coming days, it said.

Reporting by Stine Jacobsen, editing by Louise Heavens

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