Swedbank CEO gets investor Folksam backing over bank fraud in Baltics

Swedbank's second-largest investor Folksam said it has the confidence to allow Birgitte Bonnesen to continue as CEO of the bank and will as part of the nomination committee for the board vote in favour of them at the annual general meeting next week. The shareholder made the statements after seeing the results of an external report into Swedbank's alleged involvement in money-laundering in the Baltics.

"We are a part of the committee that suggests the board for the annual general meeting and we can't see any reason not to stand by that proposal (to back the board)," Folksam Chief Strategist on Responsible Investment Carina Lundberg Markow, told Reuters.