Italy has a new government, a broad coalition between different parties and with Enrico Letta as Prime Minister. A weak dollar and a large domestic market is boosting the U.S. economy. In Sweden, new orders in industry increase, albeit slowly.
Lex's Stuart Kirk and Oliver Ralph discuss around Swedbank and the Swedish bank sector.
A short presentation of Swedbank Group, 31 March, 2013.
Last week was an off-week for stockmarkets. First quarter macro figures came in weaker than market expectations, which resulted in risky assets being sold and profits taken. Most stockmarkets did well in the first three months so there was quite a bit of profit to take. Slower economic growth statistics from China and recurring concerns about growth in Europe also contributed to market uncertainty.
Swedbank-CEO: Don't over-regulate the banking sector.
CEO Michael Wolf and CFO Göran Bronner are commenting on the results for the first quarter 2013.
Presentation of Q1 2013 Results from the Analyst Conference by CEO Michael Wolf, CFO Göran Bronner and CRO Håkan Berg.
Chief Economist Cecilia Skingsley at Swedbank, gives her view on the decision from the Executive Board of the Riksbank to hold the repo rate unchanged at 1 per cent and to make a downward adjustment to the repo-rate path.
Growth prospects are gradually brightening, but at the same time the forecast is that it will now take longer before inflation attains the target of 2 per cent. The repo rate needs to remain at a low level for a longer period of time to support the recovery to ensure that inflation rises towards the target. The Executive Board of the Riksbank has therefore decided to hold the repo rate unchanged at 1 per cent and to make a downward adjustment to the repo-rate path. Increases in the repo rate are not expected to begin until the second half of 2014.
Magnus Alvesson, Head of Economic Forecasts at Swedbank, is commenting on the report Swedbank Economic Outlook, presented on 10 April 2013.
Swedbank Economic Outlook,
Northern lights – flickering but shining bright
Swedbank’s interim report January – March 2013 will be published at 06.30 CEST on Tuesday, 23 April, 2013. You are invited to participate in the following presentations:
Swedbank has decided to discontinue its remaining operations in Ukraine and Russia and has signed a share purchase agreement regarding its Ukrainian subsidiary with Mr. Mykola Lagun, the majority owner in Delta Bank.
Pursuant to the conversion clause set forth in Swedbank AB’s (“Swedbank”) articles of association the Board of Directors has today resolved to convert all preference shares into ordinary shares.
The situation in Cyprus created significant concern last week and most markets tumbled. Cyprus is now getting its emergency loan of EUR 10 billion from the troika (EU, ECB and IMF) but with a pistol pointed to its head. The solution in Brussels was reached in the early hours of Monday and just hours before the European Central Bank’s deadline of stopping the flow of money to Cypriot banks.
At today's Annual General Meeting, all current Board members were re-elected, namely, Olav Fjell, Ulrika Francke, Göran Hedman, Lars Idermark, Anders Igel, Pia Rudengren, Charlotte Strömberg, Anders Sundström, Karl Henrik Sundström and Siv Svensson.
The Annual General Meeting elected Anders Sundström as Chair of the Board of Directors. The Annual General Meeting resolved unchanged Board fees.
Export-supported growth last year was held back by low expectations; prospects look better in 2013
There are primarily three areas that the Investment Center closely monitors: developments in the eurozone, with high unemployment and fundamental differences between countries; the US government debt and how it should be managed in the long term; and reduced growth in China.
Cecilia Skingsley is commenting on the agreement that the government on Cyprus and the Eurogroup has decided on regarding the support package for the banking system on Cyrus.