Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  NASDAQ OMX STOCKHOLM  >  Swedbank AB    SWED A   SE0000242455

SWEDBANK AB

(SWED A)
  Report
Delayed Quote. Delayed NASDAQ OMX STOCKHOLM - 11/27 11:29:38 am
156.32 SEK   -0.12%
11/26SWEDBANK : Robur invests in new green bond from EUROFIMA
AQ
11/24SWEDBANK : The Kingfish Company | Publication of Admission Document
AQ
11/23SWEDBANK : Increase in SBVB24
AQ
SummaryQuotesChartsNewsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Swedbank 3Q Net Profit Beat Views on Higher Income, Lower Costs

10/20/2020 | 02:00am EST

By Dominic Chopping

STOCKHOLM--Swedbank AB on Tuesday reported a forecast-beating net profit for the third quarter of the year, as income rose while costs fell despite uncertainty caused by the coronavirus pandemic.

The Swedish bank said that with the support of the strong stock market, net commission income is back to a normal level, Swedbank's card business has recovered and underlying expenses were as planned, it said.

The bank booked 425 million Swedish kronor ($48.1 million) of credit impairment provisions in the quarter, mainly related to increased provisions for a few oil-related commitments.

Swedbank said that its work to implement its action plan to remedy money laundering shortcomings is progressing as scheduled, but that work has been affected by the pandemic. The cost of these measures continues to be lower than forecast, it added.

The bank reported a quarterly net profit of SEK5.26 billion, from a profit of SEK4.66 billion in same quarter last year, while net interest income rose 2.5% to SEK6.71 billion.

Analysts polled by FactSet had expected net profit of SEK4.32 billion with net interest income of SEK6.88 billion.

The bank's common equity Tier 1 ratio--a measure of financial strength--was 16.8%, compared with 16.3% in the year-earlier quarter.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

10-20-20 0159ET

Stocks mentioned in the article
ChangeLast1st jan.
LONDON BRENT OIL 1.13% 48.24 Delayed Quote.-27.73%
SWEDBANK AB -0.12% 156.32 Delayed Quote.12.10%
WTI 1.29% 45.54 Delayed Quote.-26.73%
All news about SWEDBANK AB
11/26SWEDBANK : Robur invests in new green bond from EUROFIMA
AQ
11/24SWEDBANK : The Kingfish Company | Publication of Admission Document
AQ
11/23SWEDBANK : Increase in SBVB24
AQ
11/20OFFENTLIGA HUS I NORDEN : Post-stabilisation period announcement
AQ
11/20SWEDBANK : Final report submitted to the Estonian Financial Supervisory Authorit..
AQ
11/17STORM REAL ESTATE : enters into transformative agreement to form a combined enti..
AQ
11/16New mandate - dnb boligkreditt as nok covered bond 5y benchmark
AQ
11/16SWEDBANK : added to Dow Jones Sustainability Index 2020
AQ
11/11SWEDBANK : Exercise of overallotment option and end of stabilisation period
AQ
11/05SWEDBANK ECONOMIC OUTLOOK : Autumn darkness surrounds the recovery - but there i..
AQ
More news
Financials
Sales 2020 45 097 M 5 310 M 5 310 M
Net income 2020 12 283 M 1 446 M 1 446 M
Net Debt 2020 - - -
P/E ratio 2020 14,2x
Yield 2020 4,44%
Capitalization 175 B 20 612 M 20 616 M
Capi. / Sales 2020 3,88x
Capi. / Sales 2021 3,81x
Nbr of Employees 16 007
Free-Float 80,2%
Chart SWEDBANK AB
Duration : Period :
Swedbank AB Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SWEDBANK AB
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 176,50 SEK
Last Close Price 156,32 SEK
Spread / Highest target 54,8%
Spread / Average Target 12,9%
Spread / Lowest Target -6,60%
EPS Revisions
Managers
NameTitle
Jens Olof Henriksson President & Chief Executive Officer
Hans Göran Persson Chairman
Anders Karlsson Chief Financial Officer
Anders Ekedahl Head-Group Information Technology
Bodil Maria Eriksson Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
SWEDBANK AB12.10%20 612
HDFC BANK LIMITED12.15%107 171
US BANCORP-24.64%66 600
BANCO SANTANDER, S.A.-31.04%51 068
BANK OF COMMUNICATIONS CO., LTD.-24.91%47 995
INTESA SANPAOLO S.P.A.-17.20%45 114