March 22, 2019 / 2:46 PM / 6 months ago

Swedbank shareholder SEB says likely to vote to clear board of liability for 2018

STOCKHOLM, March 22 (Reuters) - 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’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. (Reporting by Esha Vaish; editing by Niklas Pollard)

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