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Latvian regulator approves Danske's proposed sale of mortgage loans to Citadele

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Latvian regulator approves Danske's proposed sale of mortgage loans to Citadele

Latvia's Financial and Capital Market Commission approved AS Citadele banka's proposed acquisition of the remaining mortgage loans of Danske Bank A/S' Latvian branch, Reuters reported.

The transaction will be finalized in February, the newswire wrote, citing a statement from Citadele banka.

The move comes amid the Danish lender's efforts to exit all Baltic states in the wake of a €200 billion money-laundering scandal centered around its Estonian branch.

Danske Bank recently offered 2,000 employees in Denmark a voluntary redundancy option.