2016-07-21 07:00
Interim report for the second quarter 2016
Birgitte Bonnesen, President and CEO, comments: “I am very pleased that the quarter’s profit highlights the stable profitability, high cost efficiency and strong capitalisation that Swedbank stands for today.”
Second quarter compared with first quarter 2016
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Strong profit in challenging environment
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Increased lending volumes supported net interest income
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Higher customer activity lifted net commission income
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Sale of Visa Europe generated positive one-off income
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Good cost control
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Solid credit quality, but higher credit impairments in the quarter due to provisions for individual commitments in oil-related sectors
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Strong capitalisation
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Ratings upgrade to AA- from Fitch