Swedbank A

Regulatory Filings • Nov 23, 2016

Swedbank enters agreement with Latvian authorities

Swedbank enters agreement with Latvian authorities

Lately Latvia has taken important steps in combatting money laundering by the

actions of the Financial and Capital Market Commission (the Commission) to

increase standards for control. Following a recent audit by the Latvian

Commission, Swedbank has committed to implementing a series of further actions

in order to mitigate identified deficiencies.

During spring of 2016, the Commission carried out an inspection related to the

effectiveness of Swedbank's internal control systems for the prevention of money

laundering in Latvia.

The findings include deficiencies in internal control systems, processes and

documentation. Based on the audit results the Commission and Swedbank Latvia

have entered into an administrative agreement. The agreement includes a fine of

EUR 1.36 million and a series of mitigating actions.

- Swedbank takes the findings in the Commission's audit very seriously. Swedbank

is committed to actively working towards further improvement of our internal

control system and elimination of any shortcomings and has cooperated fully with

the Latvian authorities, says Priit Perens, Head of Baltic Banking, Swedbank.

The Bank is currently implementing a series of measures aimed at improving its

internal control systems including specific areas identified by the Commission

that are part of the administrative agreement.

For more information

Gabriel Francke Rodau, Head of Group Communication, Swedbank, cell: +46 701 44

89 66

Swedbank AB (publ) is required to disclose this information pursuant to

Regulation (EU) No 596/2014 on market abuse, the Swedish Financial Instruments

Trading Act (1991:980) and the regulatory framework of Nasdaq Stockholm). This

information was sent to be published on 23 November 2016 at 07.20 CET.

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 over 7 million retail customers and around

640 000 corporate customers and organisations with 266 branches in Sweden and

143 branches in the Baltic countries. The group is also present in other Nordic

countries, the US and China. As of 30 September 2016 the group had total assets

of SEK 2 394 billion.

Read more at www.swedbank.com