November 15, 2012 / 9:26 AM / 5 years ago

SEB says report of possible loss from SAS exaggerated

1 Min Read

STOCKHOLM, Nov 15 (Reuters) - Swedish banking group SEB strongly rejected on Thursday a media report which said it faced large losses from any bankruptcy of troubled airline SAS.

Daily Svenska Dagbladet wrote on Thursday that SEB faced a loss of up to 4 billion Swedish crown ($589.45 million) from guarantees on credit card payments should SAS, which this week launched a sweeping restructuring plan, went bankrupt.

"The numbers that have been mentioned in Swedish media concerning SEB's potential loss are not correct," the bank said in a statement on its home page.

"The numbers are grossly exaggerated." ($1 = 6.7859 Swedish crowns)

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