SEB's operating profit drops 32%

Article Abstract:

Skandinaviska Enskilda Banken AB (SEB) reported that its operating profit for the first nine months of 1998 dropped 32%, to 4.22 billion Swedish kronor ($541.4 million) when compared to figures achieved in 1997. The Swedish banking group had a net loss of 1.99 billion kronor for the first three quarters of 1998, with a third-quarter loss of 1.37 billion kronor. SEB attributed the drop in its operating profit to the financial crises that beleaguered world markets and the increase in loan risk that ensued from those financial situations.

Comment:

Reports operating profit for first 9 mos of 1998 dropped 32%, to 4.22 bil Swedish kronor when compared to figures set in 1997

Commercial Banks, Commercial Banking, Skandinaviska Enskilda Banken, Article

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Volvo is due to post profit leap

Article Abstract:

AB Volvo is expected to report a major increase in its pretax profits for the first six months of 1999. The car maker, based in Sweden, benefited from the January 1999 sale of its car division. Volvo is expected to post 29.99 billion kronor (3.43 billion euros) in pretax profits for the period. During the same period in 1998, the company posted 6.11 billion kronor. This is according to SIX Market Estimates.

Comment:

Expected to report major increase in pretax profits for first six months of 1999

Motor Vehicles & Parts, Transportation Equipment Manufacturing, Finance, Transportation equipment industry, AB Volvo

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