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Dan Lucas: the First trial for the new Swedbankschefen

– Yes, probably. But maybe not as good as for the corresponding quarter in the previous year. The cut in forecasts from the analysts who follow the bank points

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Dan Lucas: the First trial for the new Swedbankschefen

– Yes, probably. But maybe not as good as for the corresponding quarter in the previous year. The cut in forecasts from the analysts who follow the bank points to an operating income which is about 300 million, or around five per cent, below the level for the corresponding quarter in the previous year.

– Swedbank is the market leader in home loan and this has utlåningstakten slowed down. Competition has also increased when nischbanker taking market share in the mortgage market.

– Nevertheless it will probably say that Swedbank is a stable, profitable bank, actually one of the most profitable in Europe. But numbers, interesting as they certainly are, are nonetheless not the most important thing about tomorrow's presentation.

" this is the first interim report after the disclosure of suspected money laundering. For the acting ceo Anders Karlsson's presentation of the report something of a litmus test.

" He must show that he and the management team have understood that the crisis of confidence is serious and real.

" It means that he must show, first, a greater humility than what the senior people in the bank have done so far.

– second, he must show specifically what the bank is doing to fix the problems.

– thirdly, he must not shrink, or be evasive when the questions will – once again – about what the leadership knew about the suspected shops in the Baltic states. This only applies to one thing: transparency.

– Something it has certainly affected. There are no statistics, but other banks have said that they have received some extra customers who left the Swedbank. The bank may also have missed the opportunity to get new customers, instead, gone to the competition.

– But, most likely, is the effect – so far – very limited. Bank customers are sticky and in addition had half the quarter has passed, when the Mission Review came with its disclosure in February.

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