March 23, 2020 / 10:20 AM / 11 days ago

Swedbank says FSA sanction fee does not affect ability to pay dividend

STOCKHOLM, March 23 (Reuters) - Swedbank’s ability to pay the proposed dividend for 2019 will not be affected by the 4 billion Swedish crown ($383.17 million)sanction fee imposed by the Swedish financial watchdog, Swedbank’s chairman said on Monday.

“The sanction that the FSA has delivered and which the bank’s board has accepted, that is not going to affect our ability to pay a dividend,” Swedbank chairman Goran Persson said during a news conference.

Swedbank was sanctioned by the Swedish FSA last week for serious breaches of anti-money laundering regulations in the Baltics.

$1 = 10.4393 Swedish crowns Reporting by Johan Ahlander; Editing by Simon Johnson

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