SWDBY Swedbank A B (PK)

Swedbank's second-quarter pretax profit of SEK5.9 billion was in line with consensus, with stronger-than-expected net interest income and lower provisions offset by weaker non-interest income and higher costs, Citi analysts Maria Semikhatova and Guru Prasad Chowdhary say in a note. Quarterly costs came in above expectations but the 2022 cost outlook was reiterated and management continues to target 15% return on equity. A new business plan will be presented by the end of the year, Citi adds. "We see low single-digit consensus earnings upgrades driven by net interest income," the bank says. Shares trade 0.9% lower at SEK128.95. Citi has a buy rating on the stock, with a SEK170 target price. (dominic.chopping@wsj.com)

(END) Dow Jones Newswires

July 19, 2022 06:12 ET (10:12 GMT)

Swedbank A B (PK) (USOTC:SWDBY)
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부터 4월(4) 2024 으로 5월(5) 2024

Swedbank A B (PK) (USOTC:SWDBY)
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부터 5월(5) 2023 으로 5월(5) 2024