February 7, 2018 / 6:23 AM / in a year

Handelsbanken Q4 profit hit by loan losses, to pay extra dividend

STOCKHOLM, Feb 7 (Reuters) - Sweden’s Handelsbanken reported fourth-quarter operating earnings below market expectations on Wednesday as a jump in loan losses stemming from two overseas exposure weighed.

Operating profit in the quarter rose to 5.00 billion Swedish crowns ($629 million) from a year-ago 4.70 billion, lagging a mean forecast for 5.85 billion seen in a Reuters poll of analysts.

Loan losses rose to 1.08 billion crowns from 832 million last year, higher than the expected 384 million crowns. The losses came primarily from two exposures, one in Britain and one in Denmark.

The bank proposed an ordinary dividend of 5.50 crowns per share and an extra dividend of 2.00 crowns, higher than the total expected dividend of 6.51 per share seen by analysts. ($1 = 7.9438 Swedish crowns) (Reporting by Johan Ahlander; editing by Niklas Pollard)

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