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Russian Sanctions Put Swedbank's Baltic Recovery Hopes on Hold

2014-11-04 12:51:02| Appliances - Topix.net

The biggest bank in the Baltic region says sanctions against Russia are destroying its hopes of a recovery in credit demand in Estonia , Latvia and Lithuania. Swedbank AB , a Swedish bank that lived through the 2009 Baltic housing collapse, was counting on a rebound in credit growth this year before the crisis in Ukraine upended its business plan.

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