|Bid||124.45 x 0|
|Ask||124.55 x 0|
|Day's Range||124.30 - 127.45|
|52 Week Range||120.75 - 221.70|
|Beta (3Y Monthly)||0.72|
|PE Ratio (TTM)||6.73|
|Forward Dividend & Yield||14.20 (11.45%)|
|1y Target Est||217.78|
The Swedish Financial Supervisory Authority (FSA) will publish the conclusions of its probe into alleged money laundering in the Baltics by the beginning of next year, it said on Friday, pushing back the deadline by several months. Swedbank , Sweden's oldest retail bank, has lost more than a third of its market value after its Estonian business was embroiled in a money laundering scandal. In April, Swedbank admitted some failings in its money laundering processes and is working with the financial watchdogs.
After Swedbank AB (publ)'s (STO:SWED A) recent earnings announcement in March 2019, analyst forecasts appear to be...
Swedbank shareholders elected Goran Persson as chairman on Wednesday, with the former Swedish Prime Minister pledging to "clean the house" after a money-laundering scandal. Sweden's oldest retail bank has lost its chief executive, chairman and a third of its stock market value this year as its Estonian business was embroiled in a money laundering inquiry. Swedbank, which is under investigation in the United States, the Baltics and Sweden, now faces the potential threat of sanctions and fines as it seeks to regain public confidence.
Swedbank elected former Swedish Prime Minister Goran Persson as chairman on Wednesday as the bank scrambles to regain confidence from both markets and the public after a major money-laundering scandal. Swedbank, Sweden's oldest retail bank, parted ways with its chief executive and chairman earlier this year after being drawn into a money laundering scandal at Danske Bank, and is being investigated in the United States, Sweden and the Baltics. The most recent allegations, reported by Swedish state TV in March, said that Swedbank processed gross transactions of up to 20 billion euros ($22.4 billion) a year from high-risk, mostly Russian non-resident clients, through Estonia from 2010 to 2016.
Swedbank's proposed new chairman Goran Persson hopes a new chief executive for the beleaguered bank can be appointed at "end of autumn", he told Dagens Industri TV in an interview on Tuesday. Given the turbulence we have experienced we're looking for a person with a clear presence, visibility and competence," Persson, former Swedish prime minister, said. Persson, who is due to be elected at an extraordinary general meeting on Wednesday, also said it hadn't crossed his mind that Swedbank would leave the Baltics - the region at the centre of money laundering allegations against Swedbank.
Swedbank has suspended with immediate effect the two most senior executives at its Estonian business, which is being investigated over alleged money laundering, but also reiterated its commitment to the Baltics. Sweden's oldest retail bank has already parted ways with its chief executive and chairman this year after alleged links to a money laundering scandal at Danske Bank, and is being investigated in the United States, Sweden and the Baltics. The most recent allegations, reported by Swedish state TV in March, said that Swedbank processed gross transactions of up to 20 billion euros ($22.4 billion) a year from high-risk, mostly Russian non-resident clients, through Estonia from 2010 to 2016.
Swedbank has suspended the two top executives at its Estonian business with immediate effect, acting on an internal investigation into compliance with money-laundering rules at the bank. Sweden's oldest retail bank has faced a turbulent year after being linked to a money laundering scandal originating at Danske Bank, which has said its Estonia branch was used to move 200 billion euros ($225 billion)of suspicious funds from 2007 to 2015. Swedbank - whose group CEO and chairman departed amid the turmoil - admitted in late April to failings in combating money laundering and announced an internal inquiry to review its current and historic customer relationships through its Baltic units.
Denmark's state prosecutor searched the local headquarters of Nordea last week in relation to new developments in a money-laundering investigation into the region's biggest bank. The prosecutor has been investigating the lender over money laundering risks for the past three years. The prosecutor had searched the headquarters in Copenhagen in August 2017 as part of the same investigation.
If you want to know who really controls Swedbank AB (publ) (STO:SWED A), then you'll have to look at the makeup of its...
Sweden has rejected an appeal from campaigning investor Bill Browder which had urged authorities to pursue a complaint alleging accounts at Swedbank were used to launder money, the Economic Crime Authority (EBM) said on Wednesday. Browder's complaint was originally filed in March and was dismissed a month later as the transfers involving Swedish accounts had occurred before tighter anti-money laundering legislation was introduced in 2014 and as the statute of limitations had expired in the case. Browder appealed, but the EBM said it had rejected his appeal.
Swedbank's nomination committee proposed two new board members and called for an extraordinary meeting to be held before June 21, as Sweden's oldest lender tries to recover from a money-laundering scandal in the Baltics. Swedbank's reputation has been marred since it was linked to a money-laundering scandal at Danske Bank, which has said that its Estonia branch was used to move some 200 billion euros (173 billion pounds) of suspicious funds between 2007 and 2015. The committee proposed Bo Magnusson, who currently chairs two Swedish banks, as vice chairman of the board and Josefin Lindstrand, a lawyer with international experience of working on anti-money laundering issues, as a member.
Swedbank's nomination committee has proposed former prime minister Goran Persson as chairman of the Swedish banking group, which has spent recent months contending with the fallout of alleged money laundering in its Baltic business. Persson served as prime minister for the centre-left Social Democratic for a decade until 2006, and has since pursued various business interests. "Goran has an impressive list of achievements, a broad international contact network and experience of financial operations," Lennart Haglund, chairman of the bank's nomination committee, said in a statement on Sunday.
Swedbank admitted to failings in combating money laundering on Thursday and said it was under investigation by multiple U.S. authorities, piling more pressure on the bank as it tries to rebuild its reputation. Sweden's oldest bank, whose CEO and chairman have both left as money laundering allegations snowballed, is already facing a joint probe by financial watchdogs in Sweden and the Baltics and another by Sweden's economic crimes body. Swedbank has found itself caught up in a regional money laundering scandal originating with Danske Bank, which said last year that 200 billion euros (£174 billion) of suspicious funds moved through its Estonia branch between 2007 and 2015.
Swedbank AB (publ)'s (STO:SWED A) most recent earnings announcement in December 2018 confirmed that the company benefited from a small tailwind, e...
Bill Browder, an investor who campaigns to expose corruption, has taken a criminal complaint against Swedbank to Latvian authorities, alleging it was involved in a Russian money laundering scandal. Swedish broadcaster SVT reported in March that Swedbank processed gross transactions worth up to 20 billion euros (£76.68 billion) a year from high-risk, non-resident clients, mostly Russians, that passed through its Estonian branch between 2010 and 2016. Swedbank is already being investigated by Swedish and Baltic authorities over possible links to a money laundering scandal centred around 230 billion euros in suspicious payments that moved through Danske Bank's Estonian branch from 2007 to 2015.