Swedish Bankruptcies Decline for the First Time in Two Years [BNN Bloomberg (Canada)]
SWEDBANK AB S/ADR (SWDBY)
NASDAQ:AMEX Investor Relations:
swedbank.com/investor-relations
Company Research
Source: BNN Bloomberg
The 3% drop in defaults in August comes as falling borrowing costs have helped fuel optimism about an economic recovery in the Nordic region's largest country. The outlook has brightened after the central bank indicated it will continue to lower rates and as the Swedish government is preparing a 2025 budget that aims to stimulate growth and provide relief to households that have been battered by higher prices and mortgage rates. “Following two years of increasing bankruptcies, we now see a month with a slowdown, which is very pleasing,” Henrik Jacobsson, chief executive officer of Creditsafe in Sweden, said in a statement. The company registered 500 bankruptcies in August, including Mackmyra Svensk Whisky AB, a 25-year-old whiskey maker that had been listed since late 2011. The number of defaults continued increasing among commercial property companies that have been hit hard by borrowing costs that were recently at their highest in more than 15 years. While prominent landlords t
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