Swedbank gets A-IRB approval

Jun 19th, 2014

Swedbank imageSwedbank has received approval from Finansinspektionen, the Swedish financial supervisory authority, to use the advanced internal ratings-based (A-IRB) approach for corporate exposures in Norway and Sweden, it announced on Monday.

The A-IRB approach will reduce the bank’s risk exposure amount by around Skr70bn (Eu7.7bn), which Swedbank said was “a bit more than previously estimated”. It will also strengthen the bank’s Common Equity Tier 1 ratio by around 3.4 percentage points as of end-March, which a banker said puts Swedbank’s CET1 ratio 2.2% above the minimum requirement recently set by Finansinspektionen.

Swedbank will publish more detailed information about the effects of using the A-IRB approach in its interim report for the second quarter, which will be released on 18 July.

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