Swedbank in crisis

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Swedbank in crisis

Oct 08, 2008
By Matt Withers

SAVING GRACE: Sweden’s Riksbanken may be Swedbanks only option for help if the economic and financial situation continues to worsen.

TALLINN - With its stocks plummeting, its long-term credit rating downgraded and loans facing expiry, Swedbank has moved to reassure depositors of its credit worthiness. On Oct. 2 the bank assured its Swedish depositors they would be covered by the state deposit guarantee scheme, which gives compensation of up to 250,000 Swedish kronas (403,825 kroons or 25,804 euros). This gives little comfort to customers in the Baltics. The Estonian, Latvian and Lithuanian deposit guarantee scheme offers a ...

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