Swedbank Surges After DOJ Closes Probe Without Enforcement (1)

Swedbank AB’s share price jumped after the US Department of Justice closed a yearslong investigation without imposing penalties.

“We are placing another investigation of historical shortcomings behind us,” Tomas Hedberg, Swedbank’s head of special task force and deputy chief executive officer, said in a statement late Wednesday.

Shares in the Swedish lender rose as much as 6.8% on Thursday, hitting an all-time high. They were trading 4.3% higher at 9:49 a.m.

Swedbank has been facing probes by various US authorities over its alleged failure to adequately prevent money laundering through its Baltic branches, with the DOJ one starting ...