Danske Bank closes down its banking activities in Estonia

 In February 2019, the Estonian Financial Supervision Authority (the Estonian FSA) issued a precept prohibiting Danske Bank from operating in Estonia as a result of the case concerning our legacy non-resident portfolio in Estonia in the period from 2007 to 2015. In this connection, Danske Bank Estonia Branch has today entered into liquidation. This reflects the fact that Danske Bank has essentially exited its banking activities in Estonia, with mainly technical matters outstanding. The management now lies with a liquidation committee.

“Danske Bank has now essentially closed all banking activities in Estonia in accordance with the plan agreed with the Estonian FSA. In this connection, a key focus of all parties involved is to ensure that the interests of the customers are safeguarded in the best possible way,” says Frederik Bjørn, who is Executive Vice President at Danske Bank and Chairman of the Liquidation Committee.

Daily banking for all customers has been closed. The corporate loan portfolio will as of today be transferred to Danske Bank Lithuania Branch for wind-down. A number of customers banking with the Group in the Nordics have transferred their banking business from Estonia to Danske Bank branches in the Nordics. The sale of the retail loan portfolio to a local bank is now unconditional, and the transfer of the loan portfolio will be finalised before end-November 2019. All Danske Bank logos and signs will be removed from the head office building in Tallinn in the coming days.

Press contact:
Head of Communications (Baltics) at Danske Bank, Akvile Svolkiene, phone +370 693 31 883, aksv@danskebank.lt