Birgitte Bonnesen has been the Chief Executive Officer of Swedbank for many years. Her latest assignment was in September 2019 when she stepped down after the bank was highly involved in money laundering issues. Despite the huge controversy, Bonnesen has not been caught with any wrongdoing and has not been held by the financial authorities or any legal party in the country for any role in the money laundering scandal that has haunted the Sweden financial sector for the last one year.
Birgitte Bonnesen moves from Swedbank as one of the most decorated financial experts in the industry. She has left the leading financial institution at a healthy state after recording an extended period of success in the company. In this section, some of Bonnesen’s achievement in the bank has been discussed.
1. Stable Profits
Since Birgitte Bonnesen joined Swedbank, the entity has recorded significant profits for a consistent period. There is no year when the company has failed to record increased profits, most of which have been used to pay shareholders as dividends while other capital has been re-invested back into the company for growth and expansion. In the same period that Bonnesen has been in operations as the CEO, Swedbank is the only financial entity that has demonstrated significant and uninterrupted growth.
2. Market-Leading Cost Efficiency
In the last five years, Swedbank has been the leading financial organization when it comes to cost efficiency in the Swedish financial market. The overall cost of operations has been significantly lower as compared to the cost used in the operational activities of other companies in the industry. It is important to highlight that decreased operational expenses have significantly contributed in the amounts of stable profits that the company has been recording within the same period.
3. Low Operational Risks
In the banking and financial sector, risk is a major factor in operational efficiency. Thousands of banks around the world operate with a specific degree of risk, especially due to the volatile financial markets and load default tendencies. However, Swedbank has been operating in a region without much exposure to risks. Birgitte Bonnesen had enhanced the financial stability in the company to prevent it from being exposed to significant changes in the market.
4. Solid Capitalization
Most of the financial organizations are required to have a solid capitalization to avoid unseen uncertainties and collapses. The government, through its fiscal policies, has a specific industrial capitalization that is required for various organizations in the finance sector. Swedbank is a leading financial entity in Sweden, which means that its capitalization should be in the highest bracket. Birgitte Bonnesen ensured the capitalization of the company is 24.8% beyond the regulatory requirements.
5. Satisfied and Loyal Customers
Under Birgitte Bonnesen, Swedbank has become the largest bank in Sweden about the number of customers. It has more than seven million private customers, which is the largest customer base in the country. Swedbank has also grown its number of corporate customers from less than three hundred thousand to more than six hundred thousand in the last few years. It has been a period of unending transformation since Bonnesen took over as the CEO.