Swedbank faces several probes in the US and in the EU following the money laundering scandal which affects the Bank.
Shares continue dropping while pressure grows making very difficult for the bank to maintain its reputation.
The Bank faces additional investigations in the Baltics to define the involvement of the institution in the scandal known as Landromat.
According to sources, around €200 billion of Russian criminal money was laundered using the nordic banks Danske Bank and SwedBank and involving Deutsche Bank.
Speculations over the set of sanction which could be applied by US authorities grows as officials claim that apart form the financial penalties, the bank may face the US passport of the bank.
Banking passport are the permission given to t-a Financial Institution to transact in a particular currency, without such US passport, the bank will be unable to conduct USD transactions.
The Nicaraguan bank BanCorp was withdrawn its USA only weeks before requesting voluntary liquidation.
As part of this scandal, the bank has lost its CEO and the Chairman of the Board of Directors already.
Mr Karlsson (acting CEO of the bank) told reporters that: “For Swedbank to deserve the trust of customers, authorities, investors, employees and other stakeholders, continuous improvement in our anti-money laundering work is required,”.
This year only, the bank saw a decrease on share value of 25% while making provisions to face the potential financial impact of fines and enforcement measures.
