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Post by : Badri Ariffin
Sweden’s Handelsbanken surprised investors with a smaller-than-expected drop in third-quarter net profit, supported by loan loss reversals and resilient interest income.
The bank, which has been serving clients for over 150 years, posted a net profit of 5.95 billion Swedish crowns for Q3, down from 7.21 billion a year earlier. Analysts had forecast a sharper decline, with expectations around 5.79 billion, making the results a positive signal amid ongoing economic pressures.
Costs, long a focus for investors, continued to decline. Handelsbanken reported a 4% reduction compared to last year and a 5% fall from the second quarter, reflecting ongoing efficiency measures and tighter expense management.
This makes Handelsbanken the first of the major Stockholm-based banks to release its Q3 report. Nordea, though headquartered in Finland, also reported strong earnings last week, driven by rising lending and deposit volumes in Sweden.
Despite challenges from central bank rate cuts, Handelsbanken’s stable interest income and cautious cost controls suggest resilience in Sweden’s banking sector, offering a glimpse of stability for investors navigating a complex economic environment.
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