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Danske punished over money laundering scandal


COPENHAGEN: Danske Bank A/S has now become one of Europe’s worst performing financial firms as investors balk at the lack of transparency around the lender’s money laundering scandal.

At Kepler Capital Markets, the situation has prompted analyst Robin Rane to announce he’s “throwing in the towel” and no longer advising clients to buy Danske shares. At Svenska Handelsbanken AB, analysts say they’re reviewing their buy recommendation because they “do not have enough visibility” around the case. Jyske Bank analyst Simon Madsen calls Danske’s laundering case a “black box”.

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