2019.11.18 16:00

SEB bank shares drop following money laundering suspicions in Baltics

LRT.lt2019.11.18 16:00

Swedish banking giant SEB AB has seen its stock value sink by 15 percent as it awaits a programme by the Swedish public broadcaster over suspected money laundering in the Baltics, Bloomberg reported on Friday.

According to Bloomberg , the share price Stockholm-based SEB fell as much as 15 percent, the steepest decline since the height of the global financial crisis in early 2009.

SEB AB stated in a press release on Friday that it "has been contacted by Sveriges Televisions program Uppdrag granskning, who claims it will report on suspected money laundering in the Baltics in an upcoming TV programme [...] they claim that they have information that includes SEB".

"If new information emerges that has previously not been known to SEB, SEB will take action immediately," the statement read, as the bank "has an obligation to detect and report suspicious money laundering".

In Sweden and the Baltic countries, SEB offers financial advice and a wide range of financial services, SEB AB wrote.

The story appeared on BNN

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