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Swedbank to reduce dividend 38%.

TALLINN, Jan 28 (LETA--BNS) Swedbank is planning to pay a dividend of 8.8 Swedish kronor (EUR 0.83) per share for last year, which is 38 percent less than the year before.

Swedbank's net profit declined 7 percent on year to 19.7 billion Swedish kronor in 2019. The group's total income, however, rose 4 percent on year to 46 billion Swedish kronor, the bank said.

Total expenses grew 19 percent to 20 billion Swedish kronor. According to Swedbank, increased expenses were affected by investigations as wellas higher IT and staff costs.

The total profit of the Estonian arm of Swedbank totaled 198.6 million euros in 2019, which is 4 percent less than the year before, which was due to higher credit impairments and expenses.

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Date:Jan 28, 2020
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