April 30, 2019 / 5:11 AM / 2 months ago

SEB Q1 operating profit above forecast

STOCKHOLM, April 30 (Reuters) - Swedish banking group SEB reported first-quarter operating profit above market expectations on Tuesday and called for joint initiatives between banks, regulators and authorities to combat money-laundering.

SEB’s operating profit in the quarter rose to 5.86 billion Swedish crowns ($616 million), beating a mean forecast for 5.54 billion in a Reuters poll and compared with 5.26 billion in the year-ago period.

SEB, the second biggest bank in the Baltics after Swedbank , has faced questions about it’s money-laundering safeguards after both Swedbank and Danish peer Danske Bank were accused of failing to prevent money-laundering in Estonia. ($1 = 9.5088 Swedish crowns) (Reporting by Johan Ahlander, editing by Esha Vaish)

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