The banking group Swedbank reported an operating profit of 7,061 million SEK (783 million U.S. dollars) for the third quarter of this year, the Swedish Television SVT wrote on Tuesday.
The figure can be compared to last year's corresponding result of 6,193 million SEK (687 million U.S. dollars). The bank's net interest income increased from 6,208 million SEK (689 million U.S. dollars) to 6,326 million SEK (702 million U.S. dollars), and the net commission income increased from 2,962 million SEK (329 million U.S. dollars) to 3,336 million SEK (370 million U.S. dollars).
Swedbank was the first among major Swedish banks to report their earning results for the third quarter of this year.
According to Swedbank's CEO Birgette Bonnesen, the growth is caused by the increased amount of mortgage loans and corporate bonds.
"In Sweden, the volume of mortgage loans and corporate bonds continues to grow. The past quarter shows once again that we have a strong core business that contributes to a stable financial performance," Bonnesen writes in a comment quoted by SVT.
In total, Swedbank's revenue resulted at about 11.18 billion SEK (1.23 billion U.S. dollars) compared to the corresponding period of the previous year of nearly 10.42 billion SEK (1.15 billion U.S. dollars). (1 U.S. dollars = 9.02 SEK)
The figure can be compared to last year's corresponding result of 6,193 million SEK (687 million U.S. dollars). The bank's net interest income increased from 6,208 million SEK (689 million U.S. dollars) to 6,326 million SEK (702 million U.S. dollars), and the net commission income increased from 2,962 million SEK (329 million U.S. dollars) to 3,336 million SEK (370 million U.S. dollars).
Swedbank was the first among major Swedish banks to report their earning results for the third quarter of this year.
According to Swedbank's CEO Birgette Bonnesen, the growth is caused by the increased amount of mortgage loans and corporate bonds.
"In Sweden, the volume of mortgage loans and corporate bonds continues to grow. The past quarter shows once again that we have a strong core business that contributes to a stable financial performance," Bonnesen writes in a comment quoted by SVT.
In total, Swedbank's revenue resulted at about 11.18 billion SEK (1.23 billion U.S. dollars) compared to the corresponding period of the previous year of nearly 10.42 billion SEK (1.15 billion U.S. dollars). (1 U.S. dollars = 9.02 SEK)
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