Swedbank investor calls for more transparency in investigation

Swedbank investor AMF said on Friday it had expected more after the lender published the heavily-redacted outcome of an external probe into its alleged link to money laundering in the Baltics.

Earlier in the day, Swedbank head of investor relations Gregori Karamouzis had said that he sees no need for any broader or deeper investigation Swedbank carries out to be made public.

AMF Chief Executive Johan Sidenmark said in a statement that the pension investor was also unhappy that Swedbank said the continued probe would not be fully transparent and said additional clarification was needed to strengthen confidence in the bank. "We will, therefore, continue to work for more transparency and openness, thereby increasing confidence in the bank, and for closing outstanding issues," he said on the group's website.

AMF is Swedbank's fifth largest investor with a 4.77 per cent stake and is a member of the nomination committee that selects the lender's board.