Danske Bank announced its exit from Estonia banking sector. The troubled bank said its Estonian branch had entered into liquidation on Tuesday after winding down its operations in the Baltic country.
The announcement came after Estonia’s Financial Supervision Authority ordered the bank to stop its Estonia operations earlier this year.
Frederik Bjoern, the chairman of the Liqudation Committee said “Danske Bank has now essentially closed all banking activities in Estonia in accordance with the plan agreed with the Estonian FSA,”
The bank’s Estonia branch is currently embroiled in the largest money-laundering scandal in EU’s history.