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Wed, February 5, 2025
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Sweden's Handelsbanken Q4 net profit beats forecast

Sweden's Handelsbanken Q4 net profit beats forecast


Published on 2025-02-05 01:20:47 - Reuters
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  • Swedish bank Handelsbanken reported a net profit for the fourth quarter that topped market expectations on the back of strong interest and financial income and said its costs rose 5% compared to the preceding quarter.

Handelsbanken, a Swedish bank, reported a fourth-quarter net profit that exceeded expectations, with a net profit of 5.92 billion Swedish crowns compared to the forecasted 5.58 billion crowns by analysts. This performance was bolstered by a 17% increase in operating profit to 8.04 billion crowns, driven by higher interest income and lower expenses. The bank also announced a dividend of 5.50 crowns per share for 2023, up from 5.00 crowns the previous year, and initiated a share buyback program worth up to 1.0 billion crowns. Despite these positive results, Handelsbanken's shares fell by 2.5% in early trading, reflecting investor reactions to the bank's cautious outlook on future interest rate cuts and potential economic slowdowns.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/swedens-handelsbanken-q4-net-profit-beats-forecast-2025-02-05/ ]
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