May 10, 2017 / 6:05 AM / 2 months ago

BRIEF-Swedbank acquires payment provider Payex

1 Min Read

May 10 (Reuters) - Swedbank

* Swedbank acquires Payex

* Says for 2016, Payex total operating income amounted to SEK 541m, total operating costs to SEK 460m and profit before tax to SEK 78m

* Says at end of 2016, Payex total risk exposure amount was SEK 1.7bn

* Says acquisition is financed with Swedbank's internal resources and is subject to customary approvals from regulatory authorities, including Swedish Financial Supervisory Authority and Swedish Competition Authority

* The acquisition will have a minor negative impact on the common equity tier 1 ratio of the Swedbank group Source text for Eikon: Further company coverage: (Stockholm Newsroom)

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