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Handelsbanken second-quarter profits beat forecasts
July 17, 2013 / 4:45 AM / 4 years ago

Handelsbanken second-quarter profits beat forecasts

STOCKHOLM (Reuters) - Sweden’s Handelsbanken (SHBa.ST) posted on Wednesday a second-quarter operating profit that beat expectations as core income topped forecasts and on smaller-than-expected loan losses.

People walk past the Handelsbanken head office in Stockholm December 9, 2011. REUTERS/Ints Kalnins

Operating profits in the quarter reached 4.72 billion Swedish crowns ($714 million), topping a mean forecast for 4.45 billion seen in a Reuters poll of analysts and compared with 4.41 billion in the year-earlier period.

The bank, one of Europe’s strongest lenders, said a decision by Sweden’s financial regulator to introduce a mortgage risk weight floor of 15 percent would entail a capital requirement of approximately 7 billion crowns in Pillar 2.

Its core tier one capital ratio stood at 17.8 percent according to Basel 3. ($1 = 6.5815 Swedish crowns)

Reporting by Mia Shanley

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