Sweden’s SEB Falls Most in a Decade Amid Money Laundering Report
- SEB shares and bonds drop on Swedish broadcaster’s questions
- Scandal centered on Baltics led to probes of Danske, Swedbank
Logos sit on display outside an SEB AB bank branch in Gothenburg.
Photographer: Erik Abel/Bloomberg
This article is for subscribers only.
The prospect that another big Nordic bank will be dragged into the widening scandal over money laundering in the Baltics rattled investors Friday.
Shares of Sweden’s SEB AB plunged the most since the peak of the financial crisis after the bank said it was contacted by SVT, the nation’s public broadcaster, on plans to include it in a program about dirty money. The disclosure lopped as much as 15% from SEB’s market value and hit its bonds.