Danske gets Pillar 2 reprieve through $2bn AML provision

Quantifying the hit from Estonian branch investigations earned the bank a 75% cut in add-ons in place since 2018

Danske Bank took a Dkr14 billion ($1.9 billion) provision against anti-money laundering (AML) investigations into its Estonian unit in the third quarter – wiping out 15 months’ worth of profits but allowing it to reverse Dkr7.5 billion in regulator-prescribed capital charges for potential fines.

The last time Danske Bank had taken a provision for its 2007–15 Estonian AML failings – which have spanned a cross-border investigation by US, Danish and other authorities – was in September 2018, when

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