Swedbank Pays Out Mammoth €750 Million to Parent Company

Photo: Postimees/Scanpix
1/30/2012 2:36 PM
Category: Economy

Swedbank Estonia raked over more than 750 million euros in capital and dividends to its Stockholm-based parent company in 2011, a capital outflow that is likely a new record in Estonian business.

The bulk of the total came from a restructuring, whereby Swedbank Estonia reduced its share capital from 603 million to 85 million euros, transferring the difference to Swedbank AB, Äripäev reported on January 30.

In the middle of last year, Swedbank Estonia also sold the stock of its subsidiaries in Latvia and Lithuania to the parent company, allowing it to make a dividend payment of 243 million euros.

Swedbank AB will not have to pay Estonian tax associated with the transactions, Äripäev noted, because taxes have already paid on the income through various other mechanisms.


Steve Roman

Send a message to the editor

Message forwarded to the editor

This Ip-address has limited access

See also

There are no comments yet. Be the first!

Reply to comment

Reply to comment

Lae juurde ({{take2}})
The name field cannot be empty
No more than 50 characters
Comment field cannot be empty
No more than 1024 characters
Captcha verification is mandatory.
Captcha verification failed, please try again.
This Ip-address has limited access
Your comment contains unacceptable words
Add new comment