Danske Predicts Lower Profit Amid AML Compliance Costs

Law360, London (November 1, 2019, 1:05 PM GMT) -- Danske Bank said Friday that it predicts its annual profit will be at the lower end of forecasts partly because of compliance costs needed to repair the Danish lender’s reputation after it was rocked by a money laundering scandal.

The lender said it expects its net profit for 2019 to be at the least optimistic end of its forecast of 13 billion Danish kroner ($1.9 billion) to 15 billion. The bank blamed the gloomy outlook on rising regulatory and compliance costs after it found itself entangled in trouble at its Estonian branch.

Danske Bank AS, which is Denmark’s biggest lender, said...

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