December 10, 2013 / 11:07 AM / 4 years ago

Swedbank CEO says dividend policy holds up well in current environment

OLSO, Dec 10 (Reuters) - The chief executive of Swedish lender Swedbank said on Tuesday its current 75 percent dividend payout policy was appropriate given the current climate.

“We have a dividend policy that holds up well in the current environment,” CEO Michael Wolf told Reuters at a bank seminar in the Norwegian capital.

There has been some speculation that Sweden’s well-capitalised lenders could raise their dividend payout policies or pay special dividends for 2013 as loan growth stays weak.

Wolf added that he hoped the bank would soon get a green light from Sweden’s financial regulator on its advanced models for its corporate loan book, which will free up even more capital.

“It’s in the FSA’s hands, but we hope they will approve it shortly,” he said. “We expect that this will free up 40 to 50 billion crowns ($6.1 billion to $7.6 billion) in risk-weighted capital.”

$1 = 6.5407 Swedish crowns Reporting by Joachim Dagenborg, editing by Mia Shanley

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