Danske Bank wipes out debt for 99% of clients

Danske Bank has completed 99% of the debt annulment for about 90,000 customers, as announced in a press release. Originally stated in August 2022, the bank promised to cancel the debts of roughly 90,000 collection customers due to errors in its debt collection processes. As of Tuesday, Danske Bank has paid or attempted to pay compensation to over 85% of those potentially overcharged. The bank will soon start compensating clients overcharged for mortgage loans post-foreclosure, complex private consumer debt, and small business debts. Following this phase, nearly all affected customers will have received compensation. However, due to the complexity of certain smaller customer groups, the effort will continue into 2025.