Swedbank makes provision for potential agreement with OFAC

10 Mar 2023 07:30 CET

Swedbank can now assess the financial impact from the investigation by the U.S.
Treasury's Office for Foreign Assets Control (OFAC) regarding the bank´s
historical shortcomings. OFAC's investigation relates to the transactions that
the bank has notified the authority about. Swedbank therefore makes a provision
of 40 million SEK.

"We can now assess the financial impact. The dialogue with OFAC is good. But we
cannot say when it will be concluded," says Tomas Hedberg, Head of Special Task
Force and Deputy CEO of Swedbank.

The investigations by the Department of Justice (DoJ), Securities and Exchange
Commission (SEC), and Department of Financial Services in New York (DFS), are
ongoing. Swedbank is holding separate discussions with them through our U.S.
legal advisors.

The investigations are at different stages and the bank cannot at this time
determine any financial consequences, nor when the investigations will be
completed.

Contact:
Annie Ho
 Unni Jerndal
Head of Investor Relations                                          Senior
Advisor
annie.ho@swedbank.com
 unni.jerndal@swedbank.com
+46 70 343 7815                                                         +46 73
092 1180

This disclosure contains information that Swedbank is obliged to make public
pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was
submitted for publication, through the agency of the contact person, on 10-03
-2023 07:30 CET.

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