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Top related persons:
Jens Henriksson - 1 Price - 1 Karolina Ekholm - 1 Swedbank's - 1 Swedbank - 1 Carl Cederschiold - 1 Masih Yazdi - 1 Bo Lundgren - 1
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FRANKFURT Europe Sweden rocketed Stockholm Swedish
Top related orgs:
SBB - 1 Sweden's - 1 Marie Mannes - 1 Thomson - 1

Search resuls for: "Swedbank's"


3 mentions found


☆ How the ghost of 1990s property crash returned to haunt Sweden
  + stars: | 2023-07-28 | by ( John O'Donnell | ) www.reuters.com   time to read: +4 min
SummaryCompanies Swedish house market tumbles as rates riseSwedes dusting down 1990s blueprint to contain crisisBanks say willing to seize collateralFRANKFURT, July 28 (Reuters) - Long before Europe faced its debt crisis, Sweden struggled through its own 1990s property crash. At the centre of the fallout is a $13 billion property group, SBB, which borrowed to buy public property including social housing, government offices, schools, hospitals and police stations. While property doubled in value in the five years leading up to the 1990s crash, prices have since risen five-fold. Sweden's bruising experience in the 1990s, when banks seized swathes of property underpinning loans, hardened its approach and gave it a blueprint for coping with crises. Swedbank has 1 trillion crowns ($97 billion) in mortgages and loans to tenant owner associations and a further 240 billion crowns in loans to property management companies.
Persons: Jens Henriksson, Price, Karolina Ekholm, Swedbank's, Swedbank, Carl Cederschiold, Masih Yazdi, Bo Lundgren, Lundgren, John O'Donnell, Marie, Alison Williams Organizations: SBB, Sweden's, Marie Mannes, Thomson Locations: FRANKFURT, Europe, Sweden, rocketed, Stockholm, Swedish
☆ Swedbank books $3.7 mln provision over US investigation
  + stars: | 2023-03-10 | by ( ) www.reuters.com   time to read: +1 min
OSLO, March 10 (Reuters) - Swedbank (SWEDa.ST) will book a provision of 40 million Swedish crowns ($3.72 million) related to an investigation by the U.S. Office for Foreign Assets Control (OFAC) over the bank's "historical shortcomings", the bank said on Friday. The U.S. Treasury's OFAC is investigating "transactions that the bank has notified the authority about", Swedbank said in a statement. "Swedbank is holding separate discussions with them through our U.S. legal advisors," it added. The investigations are at different stages and the bank cannot at this time determine any financial consequences, nor when the investigations will be completed. ($1 = 10.7476 Swedish crowns)Reporting by Terje Solsvik, editing by Essi LehtoOur Standards: The Thomson Reuters Trust Principles.
☆ Swedbank's quarterly profit tops forecast as interest income gives boost
  + stars: | 2022-10-27 | by ( Johan Ahlander | ) www.reuters.com   time to read: +2 min
SummarySummary Companies Swedbank operating profit tops forecastInterest income boosted by higher c.bank rateSays credit quality good despite turbulenceSTOCKHOLM, Oct 27 (Reuters) - Swedbank (SWEDa.ST) on Thursday reported a better-than-expected operating profit for the third quarter, underpinned by strong income from mortgages. The Swedish bank said in a statement its quarterly operating profit rose 24% to 8.70 billion crowns ($801 million) from 7.03 billion crowns posted last year, beating the 7.19 billion crowns seen by analysts in a Refinitiv poll. "Due to our position and business model, our net interest income benefits from this." Commission income fell to 3.63 billion crowns from 3.80 billion crowns last year, beating the 3.53 billion seen by analysts. Swedbank said high inflation, especially in the Baltic countries, meant that full-year expenses were likely to be around 1% higher than the cost cap of 20.5 billion crowns.
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