EE: SEB Estonia records net profit of EUR 49.1mn in 2010.

By bne IntelliNews February 7, 2011
Estonian branch of Scandinavian SEB bank recorded net profit of EUR 49.1mn in 2010, the bank announced. The bank recorded net loss of EUR 80mn in 2009. Operating income of the bank declined by 7.2% y/y and stood at EUR 124.2mn in 2010. Provisions for bad loans amounted to EUR 9.1mn in 2010, while a year ago total provisions stood at EUR 112.5mn. Riho Unt, CEO of SEB Estonia, indicates that 2010 has been a year of breakthrough, the decisions that have been made in the crisis, have started to pay off. The bank indicates that efficient cost controls, and rise in consumers activities have been the main reasons for the successful year.

Related Articles

EE: Estonian Air records EUR 49.2mn loss in 2012.

Estonian national airline Estonian Air recorded net loss of EUR 49.2mn in 2012, up from net loss of EUR 17.3mn in 2011. Operating loss amounted to EUR 35.8mn in 2012. Revenues of the company ... more

LT: Malsena acquires Latvian flour manufacturer Rigas Dzirnavieks.

Lithuanian flour manufacturer Malsena announced that it has acquired Latvian flour manufacturer Rigas Dzirnavieks. The company indicates that with the acquisition it will become the largest flour ... more

EE: Estonian Air to return excess Embraer airplanes.

Estonian national airline Estonian Air announced that it agreed to pay penalties for returning two excess Embraer E190 aircrafts to the manufacturer. The company has started restructuring and ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335
Dismiss