Swedish banks exposed to eastern Europe’s sicker economies had a bad quarter. SEB made a small loss after writing off investments in Russia, Estonia, Lithuania and Latvia (where the IMF forecasts GDP to shrink by 12% this year).
Friday, July 24, 2009
Sweden's SEB bank posts 2Q loss
Swedish banks exposed to eastern Europe’s sicker economies had a bad quarter. SEB made a small loss after writing off investments in Russia, Estonia, Lithuania and Latvia (where the IMF forecasts GDP to shrink by 12% this year).
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