Swedbank AB regularly topped rankings of Europe’s safest banks half a decade ago.
Danske in 2018 admitted to being at the center of a $230 billion dirty money scandal and last week, Swedbank was linked to the case.
Danske was adored by investors after delivering record profits in 2017 .
Browder says he has evidence suggesting Nordic banks were an integral part of Russian money laundering.
The allegations against Swedbank suggest former Ukraine President Viktor Yanukovych was among those who benefited from the bank’s services.
Indeed, financial results at those units were so good that both Swedbank and Danske named their former Baltic heads as group chief executive officers.
Swedbank CEO Birgitte Bonnesen is still doing her best to reassure investors the bank will weather the storm.
Ronit Ghose, head of global bank research at Citigroup in London, says the allegations against Danske and Swedbank have changed perceptions of the Nordic region.