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Danske Bank to partly close Lithuanian business

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Danske Bank to partly close Lithuanian business

Danske Bank A/S' Lithuanian branch is set to renounce a part of its business clients, with some accounts slated to be closed Oct. 27, The Baltic Course reported, citing local news agency LETA/BNS.

Vaida Bickute, a spokeswoman for Danske, said the move is related to the Danish banking group's strategy for the Baltic region to focus on its international clients and to exit local business segments, according to the Aug. 14 report.

Bickute reportedly added that the Danske's customers have two months to find a new bank.

Danske Bank has been embroiled in a money-laundering scandal at its branch in Estonia, also in the Baltic region, although the bank told Reuters in late 2017 that any issues in Lithuania could "not be equated to those in the Estonia branch."