Danske Bank shares surged 11% — the top performing Stoxx Europe 600 component — after booking an additional provision of 14 billion kronor ($1.9 billion) for potential fines from U.S. and Danish authorities over money laundering in Estonia. “Our dialogue with the authorities is ongoing, and while there is still uncertainty that a resolution will be reached, we hope that a resolution will be concluded before the end of this year,” said CEO Carsten Egeriis. It now sees a loss “better than” 5.5 billion kronor — from previous guidance of a profit of up to 12 billion kronor — for the year, has cancelled the remaining dividend for 2021, and will propose not to pay a dividend for 2022.
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