Information  X 
Enter a valid email address

Swedbank (0H6T)

  Print      Mail a friend

Wednesday 18 June, 2003

Swedbank

FöreningsSparbanken sells holding in Erste Ba

FöreningsSparbanken sells holding in Erste Bank

FöreningsSparbanken (Swedbank) has today sold its shares in the Austrian
bank Erste Bank. The transaction will result in an estimated capital
gain of SEK 489 M.

The 2.3 million shares formerly held by the group represent 3.9 percent
of the votes in Erste Bank. The revenue from the disposal, SEK 1,564 M,
is expected to translate into a SEK 489 M capital gain, which will be
included in FöreningsSparbanken's second quarter earnings.

"From tradition we have very good relations with Erste Bank. Our
ownership is, however, not a prerequisite for this and therefore we have
chosen to realize this profitable investment", says Carl Eric Stålberg,
Executive Chairman of FöreningsSparbanken.

"We are convinced that Erste Bank will continue to develop strongly and
look forward to a continued fruitful relationship."

For further information:
Jonas Blomberg, Head of Investor Relations, +46-8-585 933 22
Nils-Fredrik Nyblaeus, Deputy President and Chief Financial Officer, 
+46-8-585 925 32