Sweden's central bank governor Stefan Ingves told daily Svenska Dagbladet that the profits made by Sweden's banks are good for the country's financial system, following healthy profits posted by the country's four biggest banks, Nordea, Handelsbanken, Swedbank and SEB , Dow Jones reported.
"It is good for stability," Ingves said. "Swedish bank's are well-capitalized at the moment and can take care of their own borrowing. And that is naturally something we should all be extremely grateful for," he said.
Dow Jones also pointed out that Sweden's banks didn't participate in the European Central Bank's recent offering of cheap three-year loans.
"They don't need to borrow [from the ECB]," Ingvestold SvD. "They can borrow on their own."
Last Updated (Monday, 12 March 2012 03:25)