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Swedbank AB (SWDBY.PK)

SWDBY.PK on OTC Markets Group

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Latest Key Developments (Source: Significant Developments)

Swedbank acquires payment provider Payex
Wednesday, 10 May 2017 02:00am EDT 

May 10 (Reuters) - Swedbank :Swedbank acquires Payex.Says for 2016, Payex total operating income amounted to SEK 541m, total operating costs to SEK 460m and profit before tax to SEK 78m.Says at end of 2016, Payex total risk exposure amount was SEK 1.7bn.Says acquisition is financed with Swedbank's internal resources and is subject to customary approvals from regulatory authorities, including Swedish Financial Supervisory Authority and Swedish Competition Authority.The acquisition will have a minor negative impact on the common equity tier 1 ratio of the Swedbank group.  Full Article

Swedbank says not to claim for damages against former CEO, former chairman
Wednesday, 22 Feb 2017 02:00am EST 

Swedbank AB : says board of directors has at a board meeting on 22 february 2017 decided not to make any claim for damages against bank's former ceo and former chair . Says having evaluated the information available so far, Swedbank's Board of Directors has found no ground for the bank to bring a legal action for damages against the bank's former CEO or former Chair in relation to the financial year 2015 . The decision is in line with the recommendation made by the bank's external auditor at the annual general meeting a year ago .At Swedbank's annual general meeting on 5 April 2016, it was resolved, against the auditor's recommendation, not to grant the bank's former CEO Michael Wolf and former Chair Anders Sundström discharge from liability for the financial year 2015.  Full Article

Swedbank CEO: "not probable" with any fin. impact from Panama probe
Thursday, 2 Feb 2017 01:15am EST 

Swedbank Ab : Swedbank CEO Bonnesen says "not probable" that there will be any financial impact from Swedish FSA's Panama papers investigation Further company coverage: [SWEDa.ST] (Reporting By Johan Ahlander) ((johan.ahlander@thomsonreuters.com;)).  Full Article

Northern Horizon's fund signed services agreement with Swedbank and Orion securities
Thursday, 11 Aug 2016 02:42am EDT 

Northern Horizon Capital AS : Baltic horizon unit signed services agreement with Swedbank AS and Orion Securities .Says Swedbank and Orion securities to provide liquidity on both bid and ask sides for unit on Nasdaq Tallinn stock exchange.  Full Article

Swedbank Q2 net profit beats forecast
Thursday, 21 Jul 2016 01:00am EDT 

: Swedbank Q2 net profit 6.3 billion sek versus mean forecast 5.5 billion in reuters poll . Swedbank Q2 net interest income 5.7 billion sek versus mean forecast for 5.7 billion in reuters poll . Swedbank Q2 loan losses 538 million sek versus mean forecast for 350 million in reuters poll . Swedbank Q2 net commission income 2.8 billion sek versus mean forecast 2.7 billion in reuters poll . Swedbank says the Swedish and Baltic economies stand strong after Brexit but will still be affected if global business activity is dampened due to uncertainty. Further company coverage: [SWEDEa.ST] (Reporting By Johan Ahlander) ((johan.ahlander@thomsonreuters.com;)).  Full Article

Swedbank names Birgitte Bonnesen President and CEO
Friday, 22 Apr 2016 01:00am EDT 

Swedbank AB:Has appointed Birgitte Bonnesen as President and CEO in Swedbank.Birgitte Bonnesen has until today been acting CEO in the bank.  Full Article

Sweden ends investigation of former Swedbank CEO without charges, he says - Reuters
Wednesday, 20 Apr 2016 02:25am EDT 

former Swedbank CEO Michael Wolf:Swedish authorities have closed a preliminary investigation into former Swedbank CEO Michael Wolf without pressing charges - Reuters.The bank said in Feb. it had reported its former chief executive, who was fired earlier in the month, to authorities for suspected financial crimes."I am relieved that it is now proven that I am completely innocent of the charges brought against me," Wolf said in a statement.  Full Article

Swedbank announces Anders Karlsson new CFO
Monday, 21 Mar 2016 02:00am EDT 

Swedbank AB:Announces Anders Karlsson new CFO.Says Goran Bronner has communicated that he will leave Swedbank.Says Anders Karlsson, currently CRO, will assume his new role in connection with the bank's publication of the financial report for Q2.  Full Article

Former Swedbank AB CEO reported to police, denies wrongdoing - Reuters
Friday, 12 Feb 2016 12:20pm EST 

Swedbank AB:Swedbank said on Friday it had reported its former Chief Executive Michael Wolf, who was fired earlier this week, to the Swedish Financial Supervisory Authority (FSA) for suspected financial crimes. - RTRS.As a result, the police's economic crimes unit said it had opened a preliminary investigation.Wolf denied any wrongdoing in a statement to Swedish news agency TT.Swedbank chairman Anders Sundstrom said a whistleblower had alerted the bank to potentially criminal activity.Sundstrom repeated the main reason for firing Wolf was the need to take the bank in a new direction, but said an ongoing FSA investigation into property deals made by management and the possible criminal activity had affected the timing.Wolf did not immediately reply to an emailed request for comment from Reuters.The police involvement was initially reported by business daily Dagens Industri.Wolf was fired on Tuesday, partly because of property deals made by top management that he signed off on.Swedbank is under investigation by Sweden's financial watchdog for conflicts of interest after two members of Wolf's management team made property deals as a side business, sometimes with the banks' customers.Wolf, who signed off on these deals, said later they should not have been made. He removed one of the executives, Magnus Gagner-Geeber, late last year but let Chief Financial Officer Goran Bronner stay on.  Full Article

Swedbank CEO Michael Wolf to leave bank
Tuesday, 9 Feb 2016 01:00am EST 

Swedbank AB:Chief Executive Michael Wolf is stepping down with immediate effect.Birgitte Bonnesen will serve as acting CEO and remain in her position as Head of Swedish Banking as it searches for a replacement for Wolf.  Full Article

More From Around the Web

Fitch: Basel Floors Won't Force Swedish Banks to Issue Capital

(The following statement was released by the rating agency) LONDON, May 24 (Fitch) Swedish banks would not have to raise new capital as a result of proposed floors on the risk weights that banks use to calculate capital requirements, Fitch Ratings says. Capital floors would increase banks' modelled Pillar 1 capital requirements under the international Basel regulatory framework. But we believe reductions in the Swedish regulator's Pillar 2 requirements, which are conservative relative to other E

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