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Swedish giant bank, Swedbank, report better than expected performance

Tuesday, 23 October 2012
Swedish Swedbank, reported a better than expected quarter that was above expectation. Profit after tax amounted to Skr 3.511 million, 11 percent higher than the previous quarter, and 6 percent above the average forecast.

The results can also be compared with Skr3,475 million in the corresponding period of the 2011, analysts according to reports, on average had forecasted Skr3,325 million.

Revenues in the third quarter amounted to Skr9,051 million, which was also better than expected, and 9 percent stronger revenues in the third quarter of 2011. Revenue is also slightly above the previous quarter.
See details below
Scamcomark.com

Third quarter 2012

January - September 2012 compared

Compared with second quarter 2012
•    The result for the quarter amounted to SEK 3 511m (3 162)
•    Earnings per share before dilution amounted to SEK 3.20* (2.88) and earnings per share after dilution amounted to SEK 3.19* (2.87)
•    The return on equity was 14.1 per cent (13.0)
•    The cost/income ratio was 0.44 (0.48)
•    Net interest income amounted to SEK 5 263m (5 252)
•    Profit before impairments increased by 9 per cent to SEK 5 053m (4 646)
•    Swedbank reported net credit impairments of SEK 204m (300)
•    The core Tier 1 capital ratio was 17.3 per cent according to Basel 2 (15.7 per cent on 31 December 2011). The core Tier 1 capital ratio according to Basel 3 was 16.1** per cent (14.7 per cent on 31 December 2011).
Source: Swedbank

Compared with January - September 2011
•    The result for the period amounted to SEK 10 098m (10 779)
•    Earnings per share before dilution amounted to SEK 8.28* (8.59) and earnings per share after dilution amounted to SEK 8.26* (8.58)
•    The return on equity was 13.7 per cent (15.0)
•    The cost/income ratio was 0.47 (0.53)
•    Net interest income increased by 12 per cent to SEK 15 723m (14 047)
•    Profit before impairments increased by 21 per cent to SEK 14 467m (11 937)
•    Swedbank reported net credit impairments of SEK 676m (net recoveries of 1 737)

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