Swedbank operating profit beats forecast, hikes dividend

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Swedbank operating profit beats forecast, hikes dividend

//business-finance.news-articles.net/content/202 .. rating-profit-beats-forecast-hikes-dividend.html

Published in Business and Finance on Thursday, January 23rd 2025 at 2:20 GMT by Reuters
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

Swedish banking group Swedbank reported fourth-quarter operating earnings above market expectations on Thursday on the back of robust interest income and credit quality and proposed a bigger-than-expected hike of its annual dividend.

210x110/4135 Bytes

Swedbank, one of Sweden's major banks, reported a fourth-quarter operating profit that exceeded expectations, with a profit of 7.36 billion Swedish crowns compared to the forecasted 7.12 billion crowns by analysts. This performance was bolstered by a 14% increase in net interest income to 11.42 billion crowns, driven by higher interest rates. However, the bank also noted a rise in credit impairments to 711 million crowns from 177 million the previous year, reflecting a cautious outlook on potential loan defaults. Additionally, Swedbank proposed a dividend of 15.15 crowns per share, up from 9.75 crowns the year before, signaling confidence in its financial health despite the economic uncertainties.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/swedbank-q4-operating-profit-beats-forecast-2025-01-23/ ]