Swedbank's losses worse than expected
TT/The Local · 20 Oct 2009, 08:00
Published: 20 Oct 2009 08:00 GMT+02:00
- Swedish banks' bonus bonanza continues (29 Sep 09)
- Swedbank announces massive rights issue (17 Aug 09)
- Baltic losses force cuts at Swedbank (17 Jul 09)
The result compares with a 3.1 billion kronor profit for the same quarter last year.
According to a survey by the Reuters news agency, analysts had on average expected Swedbank to lose about 2.2 billion kronor.
Credit losses rose to 6.1 billion kronor, compared to 812 million kronor during the third quarter of 2008.