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Bank losses expected to drop this year

Feb 24, 2010
From wire reports

A return to normal levels of credit losses will take years.
RIGA - Swedish banks - especially Swedbank and SEB - have paid a heavy price for lending to the Baltic region during years of red-hot growth, reports The Swedish Wire. Last year Swedbank, SEB and Nordea had losses in total worth 2.6 billion euros related to bad loans in the Baltics. Economists say the worst may be over for the Baltics and banks expect the economic situation to stabilize as Estonia, Latvia and Lithuania are leaving the immediate crisis behind. Latvia’s stark recessi ...

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