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News about Swedbank
Estonia met EU budget criterion in 2009, FM saysEstonia comfortably met the European Union budget requirement in 2009 and the country would have to face an even bigger buffer to fulfill the budget criteria in 2010, Jurgen Ligi, the Estonian Finance Minister, said Swedbank scraps 2009 bonus payments Swedish banking group Swedbank on 27 January said it would scrap bonus payments for 2009 - totalling some 406 million Swedish crowns ($ 57 million), Deutsche Presse Agentur (dpa) reported. Chief Executive Michael Wolf said it Central bank blasts government over budget THE Latvian central bank said on 7 October that the government in the Baltic state was guilty of fostering distrust and lack of confidence as it argues with international lenders over the contents of the Nordic banks won’t quit Latvia Representatives of four of the largest Nordic banks said on September 14 in Stockholm that they were committed to continuing their presence in the Baltic state of Latvia despite its dire economic prospects and the Swedbank says it will to issue a new share offer Swedish banking group Swedbank has announced a plan to issue new shares and raise 15 billion Swedish crowns (USD two billion) to strengthen its core franchise. The group raised 12.4 billion crowns in a similar Estonia sinks further into deflation Figures released by Eesti Pank, the country’s central bank, on July 7 revealed that the Consumer Price Index in June 2009 was 0.9 percent lower than the figure for the same period last year. Prices Swedbank sees no job growth The insufficiency of new jobs is creating tighter situation in the Estonian job market, Swedbank said last week. Koit Semjonov, head of the private financing department of Swedbank, said that companies that are announcing redundancies LHV Bank wants to double clients Estonian owned LHV Pank, which won an Estonian banking license in May, said it will double the number of its customers by 2011. Bloomberg quoted CEO Erki Kilu as saying that the former brokerage and No fear from Latvia, no stress from Sweden The four main Swedish banking groups have a sufficient capital base to sustain extreme pressure such as large credit losses in the neighbouring Baltic region, and have passed so-called stress tests designed to measure a The Recession has Europe, and the world, in a death grip  While the recession that began with what, in retrospect, was shown to be the greed and incompetence of American bankers who created a sub-prime mortgage crisis that topped institutions and businesses around the world like ECB rates fall to historic low as the EU keeps reeling  The European Central Bank, which last year was so reluctant to cut interest rates, has delivered yet another one, to an historic low of 1.25 percent in a bid to spur growth and fight falling Companies to cut debt through 2010 The Estonian Central Bank said companies will cut debt in 2009 and 2010 as access to credit remains limited and the Baltic countrys recession deepens, Bloomberg reported. The difference between the interest rates on loans Banks had another loss in January In line with the internationally affecting market crunch, the Estonian banking sector experienced a gloomy January this time, ending the month in red. Only Swedbank that has the biggest market share in Estonia, stated that Overdue loans increase Overdue loans in Estonia in January reached 3.6 percent of the total credit, local news reports revealed last week citing a report from the countrys central bank. The share of loans overdue for more than Swedbank Chief Executive quits A statement from Swedbank, the largest bank in Latvia, said that its chief executive officer had submitted his resignation to the office. The statement also confirmed that attempts to stabilise the Baltic state`s second-largest bank The recession’s red ink drowns the EU and the jobless  From Germany’s Deutsche Bank, which reported record losses but declared it a good start to the year, to Switzerland, where the country’s famed banks have been brought to their knees but where the good news The two largest banks to downsize The two largest banks that practically control Estonian banking, Swedbank and SEB, unveiled redundancy plans, designed to batter the surging threat of recession stemming from the global economic crunch. For Swedbank, its press spokesperson Kristi Latvia, IMF close to agreement on aid package  The Latvian government and the International Monetary Fund (IMF) on December 8 reached their first agreement in talks about an economic aid package for the Baltic state, Deutsche Presse-Agentur (dpa) reported citing local news reports. Devaluation no longer an option, says Slakteris  Devaluation of Latvia’s currency was not a viable method of tackling the country’s economic crisis despite discussions of the option during government negotations with the International Monetary Fund (IMF) over an economic assistance package, Latvian Recession looming fast, so the outlook is revised  The Swedish government has revised its economic outlook and does not rule out recession in one scenario, Finance Minister Anders Borg said. The two main scenarios suggest that growth will either be flat next year |
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