Danske completed a year-long internal investigation last year, in tandem with law firm Bruun & Hjejle, focusing on it’s non-resident Estonian portfolio handing the results over to authorities.
The United state and others are still investigating the banks operations, in relation to approximately €200 billion in transactions that are considered suspicious. The transactions took place between 2007 and 2015.
But Reuters attained a statement in which the bank indicated that it could be required to “undertake further internal investigation in 2021”.
“That definitely disappoints me,” Jyske Bank analyst Anders Haulund Vollesen told Reuters.
“I had hoped that we would see a clarification on this, and this prolongs the overhang in the stock for a while yet, so that’s a shame,”
“Raising the guidance seems totally obvious, I had kind of hoped they would start out with a slightly bigger bang,” Vollesen said.
Despite this the bank reported Q1 profit that exceeded expectiations, however this would appear to be off the back of higher trading and fee income.