Swedbank halt repurchase of own shares
Given the intensified financial anxiety in Europe, the bank’s management has suggested to the Board that further repurchases are being halted for the time being.”During the past weeks, the situation in Europe has worsened significantly. We see today no altered risk in our portfolio, but the perception of our buyback program is not supporting Swedbank’s brand in the current market situation. On my recommendation the Board have decided to halt further repurchases until the market situation becomes clearer”, concludes Michael Wolf, CEO and president of Swedbank. Swedbank’s Board of