Swedbank released this morning its numbers for Q2 19. Profit before loan losses was 3% higher than expected (mainly driven by volatile/other income however). Management has revised downwards the pay-out ratio from 75% to 50% (for regulatory and money-laundering reasons). We are comfortable with our EPS and our recommendation on the stock (stay away until we get more clarification on the money-laundering front).
17 Jul 2019
Capital issues?
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Capital issues?
Swedbank AB Class A (FRYA:FRA) | 0 0 0.3% | Mkt Cap: 233,306m
- Published:
17 Jul 2019 -
Author:
Farhad Moshiri -
Pages:
3
Swedbank released this morning its numbers for Q2 19. Profit before loan losses was 3% higher than expected (mainly driven by volatile/other income however). Management has revised downwards the pay-out ratio from 75% to 50% (for regulatory and money-laundering reasons). We are comfortable with our EPS and our recommendation on the stock (stay away until we get more clarification on the money-laundering front).