Estonian [filials] of large Scandinavian parent banks earned about two billion kroons in service fees alone last year. Swedbank earned over 900 million kroons in service fees or 736 kroons per customer. SEB earned over 800 million, mainly in card and transaction fees, writes Äripäev.
To be accurate, the banks' income fell in 2009 from the year before. For instance, Swedbank earned 1.1 billion kroons and SEB earned over a billion kroons in service fees in 2008.
Nordea was an exception since it actually managed to increase the service fee income from 87 million kroons to 91 million kroons in 2009.
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Swedish banks earn billions in service fees in Estonia