Baltic Exposure Hits Swedish Bank(SEB)

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The Swedish Bank located in the Baltic has reported to have made a considerable net loss from 2.8bn kronor to 193m kronor (£15.1m; $24.7m), upon its exposure with the baltic economies. This is the total loss made within the months of April and June. This net loss is blamed on the recession in the Baltic which has been going on since 2008. Despite this abrupt drop, the bank states that it is quite optimistic that the Baltics are going to pull through. But given the report made by the Norwegian bank DnB, were they comfirmed to have made an even bigger than forcast drop in the second quarter profit during its Baltic operation, one can any hope that SEB will survive in the end of it all.

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