Swedbank Lose Customers, Credit Rating
First of all, they have now admitted that they are now suffering net withdrawals, particularly from really rich customers. It remains to be seen to what extent the increase in the amount guaranteed by the Swedish deposit insurance from SEK 250,000 to SEK 500,000 announced yesterday by the Swedish government might slow these withdrawals.
Secondly, Standard & Poors have now lowered their credit rating. Not that I really trust their credit ratings, but since others do this will hurt Swedbank.