Swedbank to investigate report of possible U.S. sanctions breach [Reuters]
SWEDBANK AB S/ADR (SWDBY)
NASDAQ:AMEX Investor Relations:
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Source: Reuters
Swedbank to investigate report of possible U.S. sanctions breach STOCKHOLM (Reuters) - Swedbank’s ( SWEDa.ST ) chief executive Jens Henriksson vowed on Wednesday to “get to the bottom” of an alleged funds transfer from a Russian arms company, which Swedish public service broadcaster SVT said may have violated U.S sanctions. Swedbank, which is already conducting an internal investigation into suspected money laundering, said it was not aware of such a violation. The allegation risks opening a new front in a scandal which has hammered Swedbank’s shares and rocked the region’s banks. Swedbank shares were down 3.8% at 1110 GMT after SVT aired an investigative program which cited a list of transactions between Swedbank’s Baltic branch and bank accounts in the United States provided by an unidentified Wall Street source. The Swedish bank is already under investigation by U.S. authorities for its role in the Baltic moneylaundering scandal, but the new information risks exposing Swedbank to
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News
- Swedbank (OTCMKTS:SWDBY) was downgraded by analysts at The Goldman Sachs Group, Inc. from a "neutral" rating to a "sell" rating.MarketBeat
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- Swedbank (OTCMKTS:SWDBY) had its "underweight" rating reaffirmed by analysts at Morgan Stanley.MarketBeat
- Swedbank (OTCMKTS:SWDBY) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating.MarketBeat
- Swedbank (OM:SWED A) Valuation: Gauging Upside Potential After Recent Share Price Gains [Yahoo! Finance]Yahoo! Finance