Swedbank makes provision for potential agreement with OFAC
Swedbank can now assess the financial impact from the investigation by the U.S. Treasury’s Office for Foreign Assets Control (OFAC) regarding the bank´s historical shortcomings. OFAC’s investigation relates to the transactions that the bank has notified the authority about. Swedbank therefore makes a provision of 40 million SEK.“We can now assess the financial impact. The dialogue with OFAC is good. But we cannot say when it will be concluded,” says Tomas Hedberg, Head of Special Task Force and Deputy CEO of Swedbank. The investigations by the Department of Justice (DoJ), Securities and