Handelsbanken's net interest income, ie the difference between deposits and lending, was SEK 8,013 million, compared with SEK 7,429 million during the same period last year.

Net commission income was SEK 2,911 million, compared with SEK 2,662 million last year.

Costs for Handelsbanken rose 3 percent, and amounted to SEK 5,167 million.

In the same period last year, they were SEK 4,996 million.

“Revenues are rising faster than costs.

That's how we want it, ”writes Handelsbanken's CEO Carina Åkerström in an email to TT.

She notes that the bank is strong in a troubled time.

But Handelsbanken has no exposure in Ukraine, Belarus or Russia.

Analysts had, according to Bloomberg's compilation, on average calculated an operating profit of SEK 6,700 million.

Handelsbanken's credit losses were zero percent during the quarter, compared with last year when they were 0.01 percent.

During the first quarter, Handelsbanken reported a non-recurring item of SEK 1,059 million for the sale of subsidiaries with properties.

Profit boost for SEB

Storbanken SEB exceeds market expectations with its interim report for the first quarter.

The profit landed at just over SEK 7.8 billion.

SEB's operating profit can now be compared with the analysts' forecast, which averaged just over SEK 7.4 billion.

But other key figures also showed a positive development when interest rates have risen recently.

Revenues for the major bank rose sharply, to SEK 14.7 billion, compared with SEK 14.1 billion in the same period last year.

At the same time, net interest income rose from SEK 6.3 billion to just over SEK 7 billion, while net commission income in turn rose from SEK 4.7 billion to SEK 5.4 billion.

In addition, SEB also reports a credit loss of SEK 535 million.

"Given this uncertainty, it is difficult to make forecasts for the full year, but we believe that we are well reserved and the expected net credit losses will thus probably remain at a low level for the full year," writes CEO Johan Torgeby in the report.