Danske Bank issued a second profit warning on Friday, sending shares in the troubled bank down to five-year lows.
Amid the money-laundering scandal, the Danish lender cut its previous forecast of 16-17 billion Kroner to 15 billion (£1.8 billion) for 2018.
“The revision to the outlook is mainly the result of worsening conditions during the fourth quarter in the financial markets compared to the first nine months of 2018,” said Christian Baltzer, the group’s chief financial officer.
“The underlying business performance is still good,” he added.
Shares in the group on Friday morning and have halved since March.
The group is facing trouble amid authorities due to an alleged €200 billion (£180 billion) money laundering scandal.
The scandal involves the Danish Bank handling up to $30 billion of Russian and Ex-Soviet money in non-resident accounts in its Estonian branch in 2013 alone. This came in addition to an earlier investigation this July, in which a Danish newspaper reported that Danske had laundered up to $8.3 billion between 2007-2015.
A Danske spokesperson said amid the scandal: “The matter is very complex, and no conclusion as to the number of suspicious customers or transactions – or indeed the extent of potential money laundering – can be drawn from any individual pieces of information taken out of context.”
This week, Estonia arrested 10 former employees of the bank.
Shares in the group (CPH: DANSKE) are trading down 1.74% (1302GMT).
