STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
Swedbank (STO:SWEDA) (OSE: SWED) (LSE:SWK) has on June 13 received approval from Sweden’s financial services authority, Finansinspektionen, to use the advanced internal ratings-based (A-IRB) approach for its corporate exposures in Sweden and Norway. This will reduce the bank’s risk exposure amount (REA) by nearly SEK 70bn, a bit more than previously estimated. It will also strengthen the Common Equity Tier 1 capital ratio by approximately 3.4 percentage points, calculated as of end-March 2014.
More detailed information about the effects will be published in the bank’s interim report for the second quarter on Friday 18 July. In the interim report Swedbank’s capital requirement for corporate exposures will be calculated according to the A-IRB approach.
Swedbank promotes a sound and sustainable financial situation for the many people, households and companies. Our vision is to contribute to development “Beyond Financial Growth”. As a leading bank in the home markets of Sweden, Estonia, Latvia and Lithuania, Swedbank offers a wide range of financial services and products. Swedbank has 8 million retail customers and around 556 000 corporate customers and organisations with 305 branches in Sweden and approximately 180 branches in the Baltic countries. The group is also present in other Nordic countries, the US and China. As of 31 December 2013 the group had total assets of SEK 1 820 billion. Read more at www.swedbank.com
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