Share the article
twitter-iconcopy-link-iconprint-icon
share-icon

Counting the cost: Volatile Times

The aggressive increase in residential and commercial real estate lending in the three Baltic states by Swedbank and SEB has left the two institutions painfully exposed to the market crash. Robert Anderson reports
Share the article
twitter-iconcopy-link-iconprint-icon
share-icon
Counting the cost: Volatile Times

Swedish banks have been the life and soul of the Baltic boom over the past few years; now they are suffering from a severe hang-over as Latvia, Lithuania and Estonia plunge into recession.

Swedbank and SEB, which dominate the region's tiny banking markets, earned big profits as they fuelled the economic boom that followed EU accession in 2004; now they are counting the cost as their loan losses mount and their credit ratings drop.

To continue reading, join our community and benefit from

  • In-depth coverage across key markets
  • Comments from financial leaders and policymakers worldwide
  • Regional/country bank rankings and awards
Activate your free trial