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The findings, contained in a draft report commissioned by Denmark’s largest bank and seen by the Financial Times, raises questions for Danske’s leadership about who knew, and when, about the sheer volume of foreign money passing through its small Estonian branch.
The report by Promontory Financial, the consultancy, found that up to $30bn was parked in Danske’s Estonian branch by non-residents in 2013, the peak year of a scandal that lasted from 2007 until 2015.
“NRP [non-resident portfolio] transaction volume peaked in 2013 with the number of transactions approaching 80,000 that year, and the transaction volume approaching $30bn,” the independent findings, seen by the Financial Times, stated. [...]
Full article on Financial Times (subscription required)