Swedbank Q3 net profit beats forecast (updated)
23/10/2025 06:10
Adds CEO quotes in paragraphs 2-3, 6 and figures in paragraphs 4-5, 7 STOCKHOLM, Oct 23 (Reuters) - Swedish banking group Swedbank SWEDa.ST reported a lower-than-expected drop in its third-quarter net profit on Thursday, helped by a positive outlook on future credit losses. Swedbank, Sweden's biggest mortgage lender, said that the global geopolitical situation was still gloomy but that the four home markets, Sweden, Estonia, Latvia and Lithuania, were relatively stable. "Our four home markets, have very healthy fundamentals. They have strong government finances," CEO Jens Henriksson told reporters. The bank said in a statement its net profit for the period fell to 8.51 billion Swedish crowns ($904 million) from 9.38 billion a year ago, above a mean forecast of 7.51 billion in a LSEG poll of analysts. The bank said that previously expected credit losses had not materialised during the quarter, boosting the result by 398 million crowns. "We see that the economy is improving so we can make these reversals," Henriksson said. Swedbank said interest income, which includes revenues from mortgages, fell to 10.82 billion crowns from 12.23 billion a year earlier, narrowly topping the 10.65 billion seen by analysts. ($1 = 9.4155 Swedish crowns) (Reporting by Johan Ahlander, editing by Louise Breusch Rasmussen) ((Louisebreusch.rasmussen@tr.com; +45 21 27 97 79;))