UPDATE 3-Swedbank warning on costs overshadows profit beat
* Shares down almost 5% as cost guidance disappoints * Loan losses down v Q4 2019 * Dividend of 2.90 SEK per share, max allowed under rules (Recasts with analyst comment, share reaction) STOCKHOLM, Feb 1 (Reuters) - Swedbank’s spending on anti-money laundering controls will remain around 2020 levels both this year and next, it said on Monday, defying analysts’ expectations for a fall and overshadowing forecast-beating quarterly profits. The Swedish bank is beefing up controls following a record fine from Sweden’s financial regulator in March for its role in a Baltic dirty money scandal....
Source: reuters.com