July 15, 2020 / 4:43 AM / 22 days ago

Sweden's Handelsbanken Q2 net profit beats consensus

STOCKHOLM, July 15 (Reuters) - Sweden’s Handelsbanken reported a smaller-than-expected fall in quarterly net earnings on Wednesday, as the bank’s loan portfolio continued to weather the impact of the coronavirus pandemic with ease.

Second-quarter net profit fell to 3.96 billion Swedish crowns ($436 million) from 4.22 billion in the previous year, easily beating the mean forecast of 3.34 billion seen by analysts according to Refinitiv data.

Loan losses, a figure closely watched due to a slump in the pandemic-hit wider economy, were 97 million crowns, better than a year-ago 435 million and much lower than the 1.02 billion loss expected by analysts. ($1 = 9.0840 Swedish crowns) (Reporting by Colm Fulton; editing by Niklas Pollard)

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