Nordea able to buy Danske Bank shares despite Estonia-gate

Nordea's responsible investment committee has decided that Danske Bank's equity is eligible for inclusion in its equity mutual funds. This, however, does not count for the asset manager's Stars funds.

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At pan-Nordic banking group Nordea, the responsible investment (RI) committee has taken the decision that its mutual fund managers may purchase the equities of Denmark's largest bank, Danske Bank. This is despite the ongoing money-laundering case involving the Danish bank's Estonian branch, head of Nordea Invest, Eric Pedersen, tells Danish business daily Børsen.

Pedersen says  the RI committee has had discussions on whether to quarantine the equity since Danske Bank published its internal report on the money-laundering problem. In addition, the panel held a meeting with Danske's chair, Ole Andersen.

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