Swedbank reports third straight loss

Archived Articles | 21 Oct 2009 | EWR OnlineEWR

LONDON (MarketWatch) -- Swedbank on Tuesday reported its third straight quarterly loss but said it's seeing signs that credit quality in the Baltic region is beginning to stabilize.

Swedbank (SE:SWEDA 65.50, 0.00, 0.00%) , a Stockholm-based lender with a heavy exposure to the Baltic region, swung to a third-quarter loss of 3.34 billion krona ($482 million), after earning 2.47 billion krona in the year-earlier period.

Consensus estimates were for a 2.14 billion loss.

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