Swedbank stock takes dive on lat devaluation fears

Feb 28, 2007
By Gary Peach

RIGA - Fears of an imminent devaluation of the lat, however unfounded, continued to haunt both the currency and equity markets last week despite repeated assurances from Latvian officials that the currency is at no risk. Shares of Swedbank fell 8 percent from Feb. 19 – 22 on fears that the bank, which owns Hansabank, the largest banking group in the Baltics, would suffer from a possible devaluation of Latvia’s currency, the lat. Another Swedish bank, SEB, which owns Uhispank, Unibanka and Vil ...

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