Swedbank to Focus on Costs as Results Beat Forecasts

2:05 AM ET Wed, 18 July 2012

Michael Wolf, CEO, Swedbank, told CNBC, "What we are saying is the effects of the debt crisis on the real economy are starting to show here but in light of that we are still moving ahead and we are able to re-price and become more efficient. I am quite happy with the PNL so far and our ability to be masters of our own destiny."