ForeningsSparbanken to Phase Out Danish Internet Effort.Business Editors STOCKHOLM, Sweden--(BUSINESS WIRE)--Aug. 29, 2001 ForeningsSparbanken (Swedbank) (OMX OMX Office Max (stock symbol) :FSPAa.) has decided to phase out the operations of its Danish Internet bank, Firstviewbank. The liquidation The collection of assets belonging to a debtor to be applied to the discharge of his or her outstanding debts. A type of proceeding pursuant to federal Bankruptcy will take place gradually during the autumn, as Firstviewbank's customers are offered alternative solutions in the Danish market. The liquidation costs of approximately SEK SEK In currencies, this is the abbreviation for the Swedish Krona. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 60 million will be charged against the third quarter. "Firstviewbank was started as a pilot operation in February of this year," says Gert Engman, Executive Vice President and Head of Swedbank's E-business area. "Quickly changing market conditions have made it more difficult than we expected to recruit new customers in the Danish market. The road to profitability would be too long, which we are now seeing the consequences of." ForeningsSparbanken's ownership interest in, and successful cooperation with, the Danish industrial finance company FIH FIH Fédération Internationale de Hockey (French) FIH Factor Inhibiting HIF FIH first in human (clinical trial) FIH Flight Information Handbook FIH Kinshasa, Zaire - Kinshasa is not affected by the decision. Note to Editors: This information was brought to you by Waymaker http://www.waymaker.net. The following files are available for download To receive a file transmitted over a network. In any communications session, "download" means receive, and "upload" means send. The download/upload often implies a big/little scenario, in which data is being downloaded from the "big" server into the "little" user's computer. : http://www.waymaker.net/bitonline/2001/08/29/20010829BIT00130/bit0001.doc http://www.waymaker.net/bitonline/2001/08/29/20010829BIT00130/bit0001.pdf |
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