Swedbank board reaffirms confidence in CEO after money-laundering report

March 22, 2019

STOCKHOLM (Reuters) – Swedbank’s board has continued confidence in the bank’s chief executive after seeing the results of an external report into alleged money-laundering in the Baltics, the head of the company’s board said in a statement on Friday.

“After reviewing the FRA Update, the board confirms its continued confidence in the CEO and her ability to lead and manage the bank’s work in the fight against money laundering,” Swedbank chairman Lars Idermark said in the statement.

Forensic Risk Alliance (FRA) was hired by Swedbank last month to investigate allegations in the media that at least 40 billion Swedish crowns ($4.3 bln) of suspicious payments moved between accounts held at its Baltic branches and suspect accounts at Danske Bank between 2007-2015.

(Reporting by Johan Ahlander, Esha Vaish and Johannes Hellstrom)

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