|Bid||120.65 x 0|
|Ask||120.60 x 0|
|Day's Range||119.80 - 122.20|
|52 Week Range||119.75 - 230.30|
|Beta (3Y Monthly)||0.82|
|PE Ratio (TTM)||7.55|
|Earnings Date||Apr 30, 2019|
|Forward Dividend & Yield||8.50 (6.85%)|
|1y Target Est||183.95|
An external report around Swedbank's alleged link to money laundering was missing information, but the board had done enough to prevent it from not clearing the board of liability related to last year's actions, an investor told Reuters. "The status report itself is relatively difficult to access as a lot of information is missing, but in entirety and with the comments from the company's CEO and board during the day, we currently have difficulty denying a discharge to the board for fiscal year 2018," SEB Investment Mangement's head Hans Ek said in an email. "We are following developments and will make a final decision before the annual general meeting on Thursday next week," added Ek, whose fund is Swedbank's 10th largest investor with a 2.05 percent stake according to Refinitive Eikon data.
Swedbank investor AMF said on Friday it had expected more after the lender published heavily-redacted outcome of an external probe into its alleged link to money laundering in the Baltics. AMF Chief Executive Johan Sidenmark said in a statement that the pension investor was also unhappy that Swedbank said the continued probe would not be fully transparent and said additional clarification was needed to strengthen confidence in the bank. AMF is Swedbank's fifth largest investor with a 4.77 percent stake and is a member of the nomination committee that selects the lender's board.
Several banks operating in Norway made insufficient anti-money laundering risk assessments last year, the country's Financial Supervisory Authority (FSA) said in its annual report on Friday. While the FSA listed the banks that had been inspected, its report did not say which were found to have shortcomings. Last November, the FSA criticised DNB, Norway's largest bank, for not having sufficient systems in place to combat money laundering.
Swedbank's board backed chief executive Birgitte Bonnesen on Friday as some investors questioned a heavily redacted external report into allegations of money laundering through its Baltic branches. Forensic Risk Alliance's (FRA) widely-anticipated report, which has large sections blacked out, said it had identified a number of previously named clients that a media report said should have raised red-flags at Swedbank over potential money-laundering risks. Several banks have been dragged into a scandal at Danske Bank, whose Estonian branch was used for 200 billion euros (172.3 billion pounds) of suspicious payments between 2007 and 2015, knocking their shares and fuelling investor fears.
Swedbank's biggest investor said it had confidence in the lender's chief executive and board after the findings of an external review were published on Friday, saying it was satisfied by the bank's assurance it had complied with regulations. "The bank has assured that they have complied with applicable regulations and reported suspicious transactions to authorities in all countries concerned," Lennart Haglund, chairman of the Savings Banks' Owners Association and head of Swedbank's nomination committee, said in a statement.
Swedbank's second-largest investor Folksam said it has confidence to allow Birgitte Bonnesen to continue as CEO of the bank and will as part of the nomination committee for the board vote in favour of them at the annual general meeting next week. The shareholder made the statements after a seeing the results of an external report into Swedbank's alleged involvement in money-laundering in the Baltics. "We are a part of the committee that suggests the board for the annual general meeting and we can't see any reason not to stand by that proposal (to back the board)," Folksam Chief Strategist on Responsible Investment Carina Lundberg Markow, told Reuters.
Deutsche Bank paid its management board members their first bonuses in four years in 2018, with Christian Sewing's 7 million euro (6.03 million pounds) total package making him one of the best paid chief executives in European banking. Deutsche Bank's politically sensitive pay disclosures, which were revealed in its annual report on Friday, come as it contemplates a merger with Commerzbank, which unions fear could lead to up to 30,000 job cuts. Sewing, who became CEO in April last year, led Deutsche Bank to its first profit in four years and is heading the talks with Commerzbank.
Swedbank investor Alecta said on Friday that neither an external report on Baltic accounts at the bank suspected of being used for money-laundering nor the proposed continuation of the probe lived up to ...
Enclosed please find Danske Bank A/S Articles of Association of 18 March 2019. Attachment Articles of association of Danske Bank of 18 March.
Two U.S. law firms have filed a lawsuit against Danske Bank on behalf of institutional investors over a 200 billion euro (171 billion pounds) money laundering scandal. At a shareholder meeting on Monday in Copenhagen, several shareholders voiced concern about potential lawsuits from investor groups. "It is our fundamental position that the bank has lived up to its information obligation," Danske's new chairman Karsten Dybvad told shareholders.
Two U.S. law firms have filed a lawsuit against Danske Bank on behalf of institutional investors over a 200 billion euro ($227 billion) money laundering scandal. At a shareholder meeting on Monday in Copenhagen, several shareholders voiced concern about potential lawsuits from investor groups. Danske Bank was not immediately able to comment when contacted by Reuters on Tuesday.
Company announcement Company announcement No. 8/2019 Holmens Kanal 2 – 121092 København K 19 March 2019 Danske Bank A/S – major shareholder.
European stocks were higher Tuesday morning, as investors monitored heightened Brexit uncertainty and awaited the Federal Reserve's latest monetary policy meeting.
Danske Bank’s annual shareholder meeting extended into the fifth hour on Monday as retail investors expressed their discontent over the bank’s involvement in one of the world’s biggest money laundering scandals. "It is our fundamental position that the bank has lived up to its information obligation," Dybvad said when asked about potential investor lawsuits.
COPENHAGEN (Reuters) - Shareholders in scandal-hit Danske Bank on Monday voted against a proposal to break up the bank. Denmark's biggest bank is under investigation in the United States, Denmark, Estonia, ...
Company announcement Announcement No. 7/2019 Holmens Kanal 2-12 1092 København KTel. +45 45 14 14 00 18. March 2019 Annual general meeting of.
Swedbank said on Monday that it will release the results of an external investigation into allegations of involvement in a Baltic money laundering scandal on Friday. Swedbank is one of several banks pulled into a widening scandal engulfing Danske Bank, whose Estonian branch was used for some 200 billion euros (171.2 billion pounds) of suspicious payments between 2007 and 2015. Forensic Risk Alliance (FRA) was hired by Swedbank last month to investigate allegations in the media that at least 40 billion Swedish crowns (3.3 billion pounds) of suspicious payments moved between its Baltic accounts and Danske Bank's in 2007-2015.
An internal Swedbank report in September detailed "suspicious" transactions totalling around $10 billion (7.6 billion pounds) between customers of Swedbank and Danske Bank in the Baltics from 2007 to 2015, Swedish state television SVT reported. Swedbank said on Friday the figure reported by SVT was the gross amount of transactions with Denmark's Danske Bank identified in its initial review and it had acted on any suspicious activity, including reporting customers to police. Several European and overseas banks have been dragged into the Danske Bank scandal, which centres on suspicious transactions of 200 billion euros that originated in Russia and elsewhere and flowed through its Estonia branch in 2007-2015.
Sweden's financial watchdog said on Friday it had received a report from Swedbank on March 1 about suspected money laundering, which it was including in its ongoing probe into the bank's connection to a Baltic money laundering scandal. "FI confirms that on March 1, we received a report from Swedbank about suspected money laundering. Swedbank has been one of several banks to be dragged into the Danske Bank scandal, which centres on suspicious transactions of 200 billion euros (171 billion pounds) that originated in Russia and elsewhere and flowed through its Estonia branch in 2007-2015.
Sweden’s oldest bank may have handled considerably more in suspicious transactions tied to an Estonian money laundering scandal than first reported. Swedbank AB, which dominates financial markets in the Baltic region, allegedly let about 95 billion kronor ($10.2 billion) in questionable flows move through its accounts between 2007 and 2015, according to Sweden’s main television broadcaster, SVT, which cited a 2018 internal review by the bank. It’s not the first time that a money laundering case targeting a big Nordic bank has grown in scope.