July 18, 2018 / 5:14 AM / a year ago

Swedbank Q2 net profit beats forecast

STOCKHOLM, July 18 (Reuters) - Swedish banking group Swedbank reported a bigger than expected rise in second-quarter net earnings on Wednesday on the back of higher income from trading and a reversal of credit impairments.

Swedbank said in a statement net profit rose to 6.01 billion Swedish crowns ($678.9 million) from a year-ago 4.75 billion to come in above a mean forecast for 5.35 billion in a poll of analysts.

Previously announced one-off items, where a capital gain from the sale of a stake in credit information provider UC more than offset an IT-related impairment, also helped boost results in the quarter.

$1 = 8.8520 Swedish crowns Reporting by Niklas Pollard, editing by Johannes Hellstrom

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below