Swedbank's fifth biggest owner sells its entire stake.

• Swedbank profit better than expected

Swedish Export Credit Corp has sold its entire stake in Sweden's fourth biggest bank Swedbank, Bloomberg said Wednesday.

Deutsche Bank AG has managed the sale of 3.3 percent of the issued shares of Swedbank AB on behalf of Swedish Export Credit, the bank's fifth largest owner.

The offer in an accelerated book-building process consists of 30.4 million ‘A’ shares at a range of 92.98 kronor to 94.91 kronor each, Bloomberg News said.

The Swedbank stock has rallied 38 percent since the turn of the year.

The Swedish banking group, the biggest lender in the Baltics, poster a better-than-expected third quarter profit as loan losses fell drastically. It posted a net profit of 2.6 billion kronor, compared with a profit of 1.6 billion kronor in the second quarter.

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