New blow for Danske Bank as business school cuts all ties

Danske Bank is currently being heavily criticized for its involvement in a money-laundering scandal in the bank's Estonian branch. Now, in a further knock, Denmark's leading business school is severing all future ties to the bank.

Danske Bank headquaters in Copenhagen. | Photo: Mads Joakim Rimer Rasmussen/ Ritzau Scanpix

Danske Bank's reputation is currently taking severe punishment due to the bank's involvement in a money-laundering scandal in its Estonian branch, where "a large part" of money transfers totalling some EUR 200 billion may be "suspicious", according to the bank's own statements.

As a concequence, management at Denmark's leading business school, Copenhagen Business School, or CBS, has decided to cut all future ties with the bank, Danish business news service Finans reports.

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