The Swedish Wire
Due to a growing number of confiscated properties in the Baltic States, Swedbank "will become a real-estate company" in the region, the bank’s CEO said.
In the trail of the financial crisis in the Baltic States, Swedbank, the region's largest lender, is likely to end up with large assets in real-estates, confiscated from customers that fail to pay interest.
“We will become a real estate company in these countries within a few years”, said Swedbank’s CEO Michael Wolf in a speech at the political event Almedalen Week on the island of Gotland on Tuesday.
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Swedbank to create Baltic real-estate company