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Net interest income amounted to SEK 6,273 million, compared to SEK 6,332 million expected, and commission income amounted to 3,236 million. There was a reduction projection of 3.155 million.
The operating profit of Swedbank went far beyond expectations, driven by unexpected credit recovery and other income line. The fact that the costs were slightly higher than expected and especially that the net interest income was clear is the focus of attention, combined with a relatively low capital position.
He writes briefly in RBC. better than the consensus. However, expectations were consistent with higher-than-expected credit recovery and revenues because of good Treasury results, "writes RBC.
Net interest rates were slightly below expectations as volumes increased and margins decreased. This also indicates that the core equity ratio unexpectedly dropped to the lows of loan growth. Swedbank reiterates that she does not see that she has "excess capital," she calls the house of analysis.
Morgan Stanley also points out that Swedbank made "low quality" expectations and that the capital base ratio was surprisingly low. than expected with mixed quality when net interest income was lower than expected while commission income was meeting expectations, as well as net trade and the other income line. "
Swedbank fell 4% Wednesday morning.
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