Comment on SFSA decision to close supervision case
The Swedish Financial Supervisory Authority, SFSA, has decided to close the ongoing supervision case against Swedbank without any measures. The supervision case, initiated in December 2015, was a result of private investments made by a few members of the former Group Executive Committee.
The SFSA decision is stated in a letter received by Swedbank:
- We welcome the fact that SFSA has made its decision, so that we can put this issue behind us. We take important lessons from this in our continued efforts to strengthen the trust for the bank, says Birgitte Bonnesen, President and CEO of Swedbank.
Since December 2015, Swedbank has taken measures to improve internal procedures.
Swedbank promotes a sound and sustainable financial situation for the many people, households and companies. Our vision is to contribute to development “Beyond Financial Growth”. As a leading bank in the home markets of Sweden, Estonia, Latvia and Lithuania, Swedbank offers a wide range of financial services and products. Swedbank has over 7 million retail customers and around 650 000 corporate customers and organisations with 241 branches in Sweden and 141 branches in the Baltic countries. The group is also present in other Nordic countries, the US and China. As of
31 March 2017 the group had total assets of SEK 2 488 billion.
Read more at www.swedbank.com