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Billion gains for SEB and Swedbank in the third quarter

2019-10-23T06:52:03.140Z

SEB, Swedbank and Handelsbanken today presented their reports for the third quarter of the year. For SEB, profits increased compared to the same period last year - for Swedbank they fell. But both banks report close to SEK 6 billion in profit for the quarter. For Handelsbanken, operating profit during the quarter reached SEK 4,641 million.



The banking group SEB reports operating profit of SEK 5,864 million for the third quarter of 2019. This can be compared with the profit of SEK 5,587 million for the corresponding period last year.

Analysts had, on average, projected an operating profit of SEK 6.35 billion, according to a Reuters survey.

Net interest income rose to SEK 5,983 million, from SEK 5,319 million for the corresponding period last year. Net commission income increased to SEK 4,639 million, from SEK 4,512 million.

In total, revenues amounted to SEK 11,942 million, compared with SEK 11,433 million for the corresponding period last year.

Expenses rose to SEK 5,589 million, from SEK 5,421 million.

Profit case for Swedbank

The Swedbank Group reports an operating profit of SEK 5,841 million for the third quarter of 2019. This can be compared with the profit of SEK 6,552 million for the same period the year before.

Net interest income fell to SEK 6,553 million, from SEK 6,607 million. Net commission income increased to SEK 3,297 million, from SEK 3,202 million.

In total, revenues amounted to SEK 11,226 million, compared with SEK 11,416 million for the corresponding period last year.

Expenses rose 9 percent to SEK 5,164 million, from SEK 4,753 million. Loan losses increased to SEK 154 million, from SEK 109 million.

Rising net interest income

When it comes to Handelsbanken, operating profit of SEK 4,641 million landed for the third quarter of the year. This compares with the profit of SEK 5,344 million for the corresponding period last year.

Net interest income rose to SEK 8,047 million, from SEK 7,862 million in the corresponding period last year. Net commission income increased to SEK 2,724 million from SEK 2,624 million.

In total, revenues amounted to SEK 11,113 million, compared with SEK 10,728 million for the corresponding period last year.

Expenses rose to SEK 6,282 million, from SEK 5,156 million. Loan losses decreased to SEK 192 million, compared with SEK 230 million in the third quarter of 2018.

Source: svt

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