Swedish Bank: SAS losses not so bad

SEB: “The numbers are grossly exaggerated”

Following a press article that alleged that the Swedish banking company SEB Group faced big losses if the troubled airline SAS was to go bankrupt, the bank issued a strong rejection of the claims. The Swedish daily newspaper Svenska Dagbladet published a report yesterday saying that SEB would suffer a loss of up to SEK 4 billion (€463 million) if SAS went bankrupt, due to guarantees on credit card payments.
“The numbers that have been mentioned in Swedish media concerning SEB’s potential loss are not correct,” the bank said in a statement. “The numbers are grossly exaggerated.”
Reuters
[photo courtesy SEB Group]

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