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Monday 27.01.2020 | Name days: Ildze, Ilze, Izolde
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Swedbank takes EUR 400 million in dividends from its Estonian sub-group

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUSwedish banking group Swedbank has this week announced plan to take out 400 million euros in extra dividends from its sub-group in Estonia.

The sub-group’s management stated to ERR that Swedbank Estonia is today very well capitalised following a long period of solid profitability. Hence the decision to take out part of the accumulated profits, unveiled Robert Kitt, CEO of Swedbank Estonia.

With the move the bank will pay 100 million euros in corporate income tax.

In 2014, the bank altered its dividend policy, establishing a procedured thatseeing to it that 60 percent of accumulated profits of its Baltic subsidiaries will be annually paid out to shareholders.

Ref: 111.111.111.2612


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