Don’t say “Baltics”

The following is the public letter that Meelis Mandel, editor in chief of Äripäev, sent to Swedbank and SEB today.
Dear bankers of Swedbank and SEB, 
Both your banks published this week their third quarter results which got major media coverage in the Scandinavian business press and elsewhere. And rightly so, since our view from this side of [...]

Swedbank pension funds lost 17,000 clients

The number of Swedbank pension fund clients has decreased by 17,000, compared to the end of previous October. Small pension funds, such as LHV, Ergo and Nordea were most successful with getting new clients, Äripäev reports.
The information is from Friday afternoon while people could change their pension funds until the end of Saturday evening.  Swedbank announced [...]

LHV Bank earns 0,17 mEUR profit in Q3

Estonia’s LHV Pank earned in the third quarter of this year a profit of 2.7 million kroons (EUR 172 500) and its assets grew to 600 million kroons by the end of the period.
Net revenues increased by 16% in comparison with the third quarter of 2008, the bank said. The amount of deposits increased by [...]

Swedbank is willing to compensate losses

Swedbank is willing to compensate losses to its clients in case Financial Supervision Authority’s (FSA) accusations of breaching conflict rules are true, Priit Perens, the CEO of Swedbank Estonia told ERR News.
“We have planned a meeting with FSA on Wednesday to discuss these accusations. If we have broken some regulations and caused direct loss to [...]

The growth of overdue loans slowed in August

The share of loans overdue by more than 60 days in the loan portfolio increased less in August than in previous months. The respective indicator grew by 0.2 pp, reaching 6.5% of the entire portfolio. The quality of loans issued to the construction and transport sector and to the hotel and restaurant sector improved somewhat, [...]

Bigbank earns 2.86 MEUR profit in Q2

Bigbank earned a net profit of 44.8 million kroons (EUR 2.86 mln) in the second quarter of this year, a 10.6% improvement on the corresponding period a year ago.
Profit before impairment allowances and one-off revenues from the premature termination of bonds and prepaid income tax assets totalled 80.2 million kroons, compared with 59.8 million kroons [...]

1.67 million internet banking clients

Estonian commercial banks had 1 666 134 internet banking clients as of the end of July, the number of the banks’ telephone banking clients totalled 751 126 as of the end of the month.
Swedbank’s internet bank had 827 492 clients as of the end of July, 897 more than at the end of June.
SEB Bank’s [...]

Volume of problem loans may reach 9 pct this year

Jana Kask, Head of the Financial Sector Policy Division of Eesti Pank
In June, the corporate and household loan and leasing stock declined by 1.7 billion kroons, i.e., 0.6%. At end-June the volume of the loan and leasing portfolio amounted to 261 billion kroons, being nearly 2% smaller year-on-year. The drop in the loan volume this [...]

Swedbank to establish Baltic real estate company

Due to a growing number of confiscated properties in the Baltic States, Swedbank “will become a real-estate company” in the region, the bank’s CEO said, The Swedish Wire writes.

In the trail of the financial crisis in the Baltic States, Swedbank, the region’s largest lender, is likely to end up with large assets in real-estates, confiscated [...]

SEB to establish separate Baltic division

The Swedish SEB bank will bring its banking operations in Estonia, Latvia and Lithuania under a separate unit, SEB Baltikum, to be headed by Martin Johansson, the bank said in a press release.
“Our activity in the Baltic countries is long-term and we regard the area as our domestic market. At the same time the next [...]