Danish lender Danske Bank has axed 60 jobs as part of its efforts to reduce costs and maintain a smaller team, Bloomberg has reported.

Danske Bank head of human resources Karsten Breum told the publication in an e-mailed statement that the positions were made redundant across the organisation in January.

Breum said: “As we have said before, we will be fewer employees over time through natural attrition and an ongoing adjustment of our organisation. It is never an easy decision to say goodbye to good colleagues, and that is why we also have an ongoing focus on up-skilling and job relocation.”

Meanwhile, Danske Bank announced its 2021 financial results in which it maintained its 2023 profitability target and aimed to increase profits this year.

The lender posted a net profit of DKK12.9bn ($1.95bn) for 2021, against DKK4.6bn ($698m) in 2020. The return on shareholders’ equity was 7.6%, compared to 2.6% in 2020.

Total income in 2021 stood at DKK42.6bn ($6.4bn), up 4% year-on-year.

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Danske Bank CEO Carsten Egeriis said: “Throughout 2021, our expert advisory services, digital services and sustainable products have resulted in good customer activity.

“In turn, our business continued to develop positively with total income increasing 4%, and our initiatives to become a more efficient bank resulted in costs decreasing 4%.”

In October 2021, Danske Bank lowered its profitability target for 2023 due to increasing competition and compliance costs related to its money laundering scandals.

The lender is still being probed in Europe and the US over alleged money laundering dating back to 2007 to 2015.