By Dominic Chopping

STOCKHOLM--Swedbank AB said Monday that the Swedish financial supervisory authority is progressing its investigation into an IT incident at the bank earlier this year and is now assessing a possible sanction.

Swedbank suffered from an IT disturbance in April that resulted in incorrect balances on customers' accounts.

Swedbank said it has taken "forceful" measures to prevent this from happening again.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

October 31, 2022 03:33 ET (07:33 GMT)

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