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26 August 2021

Comment on DFSA's decision to extend the appointment of the independent expert

In February 2021, the Danish Financial Supervisory Authority (the Danish FSA) decided to appoint an independent expert to follow whether the bank's financial crime plan is being implemented as intended throughout the Group. The appointment was for 6 months and the independent expert started its work at the end of March. The Danish FSA has decided to appoint the independent expert for a further 6 months.

"We have made good progress in the implementation of our financial crime remediation, which is a large, complex and multi-year enhance programme. We are currently recalibrating the plan and some of the individual workstreams' deadlines will be extended, while some additional items will be added to the plan. In light of the ongoing recalibration, we fully support and welcome the decision by the Danish FSA to extend the appointment of the independent expert. We remain confident that we will reach our overall targets and the comprehensive actions set out in our plan by the end of 2023 as expected," says Philippe Vollot, Chief Compliance Officer at Danske Bank.

When the next 6-month term ends, the law provides for the possibility for the Danish FSA to make further appointments. Given that the bank's financial crime plan extends until the end of 2023, the bank's management believes that further extensions of the appointment of the independent expert are likely.

Danske Bank

Contact: Stefan Singh Kailay, Head of Media Relations, tel. +45 45 14 14 00

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Danske Bank A/S published this content on 26 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 August 2021 10:10:04 UTC.