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Danske Bank’s compensation to overburdened clients faces delays By Reuters

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© Reuters. FILE PHOTO: The Danske Bank sign is seen on the Estonian branch building in Tallinn, Estonia on January 22, 2019. REUTERS / Ints Kalnins

COPENHAGEN (Reuters) – The compensation process for Danske Bank clients, from whom the lender improperly collected debts, is expected to last until 2022, the bank said on Wednesday after discovering additional clients potentially eligible for compensation.

“The problems arising from data errors in the bank’s debt collection systems are of such magnitude and complexity that the work to correct the errors and give our debt collection clients final clarification will run through 2022.” Danske said in a statement.

Danske, who has so far identified about 6,300 clients to compensate as a result of overcollection, said the number of clients potentially eligible for compensation could increase by 10,000-15,000.

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