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Hitt og þetta 5. september 2006

Sandsvaer Sparebank issues profit warning

Nordic Business Report-September 5, 2006-Sandsvaer Sparebank issues profit warning
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The Norwegian bank Sandsvaer Sparebank issued a profit warning on Tuesday (5 September), saying that its third quarter report will be negatively affected by two credit losses within the category building projects.

The bank said that it expects to book a credit loss of SEK20m from the projects.

One Swedish krona (SEK) is worth approximately 0.07 British pounds (GBP).

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