Danske Bank has lowered its profit forecast for this year by around 1 billion Danish Krone, or 134 million euros. The Copenhagen bank blames the reduction on more difficult market conditions and higher risk management costs.

The Danish bank now expects a profit of 1.7 billion to 2 billion euros. That was previously almost 1.9 billion to 2.1 billion euros. Profit in the second quarter will also be lower than what analysts expected on average.

Last year it was announced that Danske Bank had processed billions of euros in dubious cash flows for years. It would have been, among other things, criminal money from Russia. The scandal cost the top Thomas Borgen.

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