The Swedish banking group Handelsbanken announced record results as higher revenues, lower loan losses and cost-cutting measures boosted operating profit for the quarter.
The bank’s operating profit for 150 years rose to 6.37 billion kroner ($ 697.43 million) from 5.38 billion kronor a year ago.
However, including operations in Denmark and Finland, from which the bank is about to leave, the competitor of Swedbank, SEB and the Finnish Nordea, announced operating profits of 6.53 billion kronor in the quarter, higher than expected.
The average forecast spoke of operating profit of $ 6.40 billion in the quarter.
A strong recovery for the Swedish economy from the initial waves of the pandemic was triggered by the appearance of Omicron late last year, but boosting doses and milder symptoms have allowed authorities to quickly lift the restrictions.
Handelsbanken, whose main markets are Sweden, Norway and the United Kingdom, announced that net interest income – including units in Denmark and Finland – rose to 8.11 billion kronor from 7.86 billion kronor. Crowns last year, compared to the 7.89 billion crowns analysts had expected.
Income from commissions rose to 3.47 bn. Kroner in the quarter against 2.88 bn. Kroner a year ago, and higher than 3.11 bn. Kroner per set an analysts. …
Source: Capital
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