The building is from Swedbanks facilities in Kaliningrad.
2009/01/14
Swedish banking stocks are down
Apparently, the Swedish banking stocks are down approx 20 % during the first time of 2009. This is of course weird, I mean - the market must have known about the Baltic and Ukrainian investment for some time.. Well, a year or two ago these investments generated a lot of profit (not least for Swedbank) but the hunt for positive NPVs goes on.. Going to be interesting to see how this plays out. Even if I dont know very much about the baltic real estate sector, it must be safe to say that many properties and houses were overvalued.
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http://www.nordea.com/sitemod/upload/Root/www.nordea.com%20-%20uk/Productsservices/eMarkets/Baltic_Rim_Outlook_November_2008.pdf
http://www.seb.se/pow/wcp/filedownload.asp?file=DUID_DD640DEFB97D7227C12574DC00313CAD_Eastern_European_Outlook_0810S.pdf
Ja, det där var väl inte direkt väntat faktiskt.. Jag gillade Nordeas bra mycket bättre än Rysslands.. humor är att i SEBs rapport så talar de om måttlig inbromsning av råvarupriserna.. tja.. när marknadspriser på olja ligger på 45 och väntas ligga där och kostnaderna för att pumpa upp eländet börjar närma sig 30 i absolut bästa fall är det ju klart att det börjar bli knapert.. lägg därtill att Rysslands oljeproduktion är extremt utdaterad och ineffektiv - förutom de tillgångar som hölls av Yukus och Chodorkovsky... hmmm.. Tror personligen att Swedbank och SEB får det tufft i forna öst. // carl
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