Swedbank gives more to its owners

Swedbank increases the share of the major bank's profit distributed to shareholders – from 50 to 60-70 per cent.

"The board's decision on changed dividend policy means that we can both develop the bank for our customers and increase lending in pace with the changing business environment", says CEO Jens Henriksson according to a press release.

Swedbank reduced the dividend in 2019 after revelations that the bank may have been used for extensive money laundering in the Baltic region.

The bank is presenting its annual report on Thursday morning.

Corrected: In an earlier version of the notice, the press release quote was attributed to the wrong person.