The Danish market picked up slightly in the third quarter with the biggest banks, Nordea and Danske, returning to the market. Although still behind 2017 levels, the market has closed the gap a bit during the first nine months of the year with issuance down 14% and sales down 51% compared to the same period last year. Q3 also saw 97 leverage products launched by Commerzbank.

Danske Bank has recently found itself caught in one of the world’s biggest money-laundering scandals involving €200 billion of non-resident money flow through its Estonian branch from 2005-2015; a branch it took over when it bought Sampo in 2007. A “large” share of that amount is believed to be suspicious transactions and the revelations led to CEO Thomas Borgen to resign while several employees have been reported to the police. Criminal investigations are ongoing and the

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