Finantsinspektsioon: The internal report of Danske is clear evidence that backs up the earlier actions of the independent Estonian financial supervisor to stop breaches by the bank
Today, 19 September, Danske Bank A/S published a summary of its internal investigation report on the servicing of non-residents at Danske Bank Estonian branch.
“The investigation report of Danske Bank confirms the results of supervisory proceedings conducted by Finantsinspektsioon at Danske Bank Estonian branch in 2007-2015 and is clear evidence of the extent of the deficiencies that existed at the bank. The report describes serious shortcomings in the organisation of Danske Bank, where risk-appetite and risk control were not in balance”, said Kilvar Kessler the chairman of Finantsinspektsioon. “We will study the report carefully and decide the next steps to be taken together with the Danish financial supervision authority, which is the primary home supervisor of the bank”.