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Central & Eastern Europe: Baltics - Nordic Banks Braced For Baltic Slowdown - As Recessions Loom In The Baltic States, Scandinavian Banks Have Reason To Be Grateful For Their Reliable Domestic Earnings, Reports Karina Robinson.(Financial report)
- Article from:
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The Banker
- Article date:
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August 1, 2008
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Copyright informationCOPYRIGHT 2008 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: KARINA ROBINSON
Scandinavian banks are being forced to factor in the possibility of a hard landing from their exposure to banking in the Baltics, a component in their international expansion and diversification strategy.
Mostly however, they are reasonably well insured from even the worst case scenario due to the solidity of their domestic earnings and the relatively minor role played by their north European neighbours in their total profits.
However, for SEB and, even more so, for Swedbank, the economic problems are set to play a bigger role than for Danske Bank, Nordea and DnB NOR, which have smaller exposures to the Baltic countries of Latvia, ...