ATP: Buying Danske Bank equities is good active ownership

Over the past six months, Danish pension fund ATP has increased its equity interest in Danske Bank. According to CEO Christian Hyldahl, doing so does not conflict with the principles of good active ownership. Quite the contrary, he says.

Photo: Ritzau Scanpix/Malene Anthony Nielsen

The recent money-laundering case at Danske Bank has hit the bank’s reputation as well as its stock price. But despite the bank's tarnished name, Danish pension fund ATP has taken advantage of the falling price and increased its shareholding in Danske Bank by buying stocks worth DKK 1.9 million (approximately EUR 255,000) in the latest half-year period, according to report from news service Ritzau.

Earlier this year, the pension fund homed in on the case when Senior Vice President at ATP Claus Wiinblad criticized Danske Bank for not acting quickly enough on the money laundering problem. At the bank's annual general meeting (AGM), Wiinblad told Ritzau:

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