September 25, 2018 / 2:04 PM / 3 months ago

Danske Bank outlook lowered to negative from stable by Fitch

COPENHAGEN (Reuters) - Credit rating agency Fitch lowered the outlook for Danske Bank’s (DANSKE.CO) ‘A’ credit rating to negative from stable on Tuesday to reflect the potential impact of the money laundering scandal linked to its Estonian branch.

“The magnitude of suspicious transactions identified so far, also considering that a large part of the non-resident clients have not yet been investigated or that sanction screening is not yet complete, means there is tail risk of larger fines being incurred,” Fitch said.

Reporting by Teis Jensen. Editing by Jane Merriman

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