October 23, 2024 07:37 GMT
FINANCIALS: Swedbank - Joins other Swedish banks in beating expectations
FINANCIALS
SWEDA
• Net Income well ahead of consensus SEK 9,979m, slightly flattered by one positive one-offs, but strong underlying nonetheless. Net interest income actually increased as the effects from lower rates were more than offset by lower funding costs.
• Stage 3 loans increase by SEK 386m, marking a reverse of a previously declining trend. Total stage 3 ratio climbs to 0.6% vs 0.49% consensus. Not terrible but a marked uptick.
• CET1 is at a healthy 20.4%, up 0.3%. Well above the 15.1% requirement.
• The DoJ's anti-money laundering probe remains outstanding
Call is at 8:45 - https://www.swedbank.com/investor-relations.html
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