EE: Swedbank Estonia records EUR 17.4mn net loss in Q1.

By bne IntelliNews May 5, 2010
Estonian branch of Swedbank recorded EEK 272mn (EUR 17.4mn) of net loss in Jan-Mar 2010, no comparison provided. The bank's revenues inched up by 1% q/q and amounted to EEK 1.05bn in Q1, while operating profit before provisions for bad loans amounted to EEK 666mn. Swedbank's loan portfolio and deposits declined both by 2% q/q, no absolute figures provided. Bank estimates its market share in total banking sector loan portfolio and deposits at 43% and 47%, respectively. To remind, Swedbank recorded EEK 1.1bn (EUR 73mn) of net loss in 2009, down from net profit of EEK 2.7bn in 2008.

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