| Home | September 2011News | Swedbank comments the past day’s discussion on the bank’s repurchase of shares |
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 Swedbank comments the past day’s discussion on the bank’s repurchase of shares- Swedbank comments the past day’s discussion on the bank’s repurchase of shares
- September 01, 2011
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Swedbank’s Board of Directors received a mandate at the Annual General Meeting 2011 from the bank’s shareholders to repurchase a maximum of 10 percent of outstanding shares. The background for the decision is that Swedbank – based on the risk level in the bank’s balance sheet as shown by various stress tests – set a target for the bank’s core Tier 1 capital ratio of 13 percent.
At the start of 2011, Swedbank’s core Tier 1 ratio was 13.9 per cent and at the end of the first quarter 2011, the ratio was 14.9 per cent. Swedbank’s Board of Directors therefore decided to start repurchase shares at the beginning of the second quarter. Swedbank bought back shares to a value of SEK 3.5 billion during the second quarter. Despite this, Swedbank’s core Tier 1 ratio was 14.8 per cent at the end of the second quarter 2011, a level placing the bank as one of the absolutely best capit...
- View more at: http://www.1888pressrelease.com/swedbank-comments-the-past-day-s-discussion-on-the-bank-s-re-pr-331574.html
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