MeritaNordbanken's 1st-half results fall short of analysts' expectations

Article Abstract:

MeritaNordbanken reported a drop in operating profits of 7.3% during the first-half of 1999. The company's earnings were slightly lower than what analysts had predicted. MeritaNordbanken posted 769 million euros in operating profits during the period. During the same period in 1998, the company posted 825 million euros in operating profits. MeritaNordbanken is the largest banking group in the Nordic region.

Finland, Abstract, MeritaNordBanken

Operating profit at SEB declined 45% in first half

Article Abstract:

SEB AB posted a decline of 45% in its operating profits for the first-half of 1999. SEB, a banking group based in Sweden, posted 2.76 billion kronor (315.1 million euros) for the period. The group's figures came close to matching forecasts. SEB announced that it would continue investments in growth sectors. The group posted 4.99 billion kronor during the same period in 1998.

Comment:

SEB posts decline of 45% in operating profits for first-half of 1999

Sweden, SEB AB

Greece's Piraeus says profit surged during first half

Article Abstract:

Piraeus Bank announced that it posted an improvement in its pretax profits for the first-half of 1999. Piraeus's profits for the period reached 44.3 billion drachmas (136.5 million euros). According to the Greek-based bank, group profits for the year is expected to go beyond 75 billion drachmas. Group member Xiosbank doubled its profits to 7.8 billion drachmas.

Comment:

Posts improvement in pretax profits for first-half of 1999

Greece, Piraeus Bank S.A.