Sweden's Swedbank Q1 profit falls 10% as interest income slips

Swedbank AB

29/04/2026 06:16

Overview

Sweden-based retail bank's Q1 profit fell 10% yr/yr as total income declined

Net interest income dropped 3% yr/yr, while net commission income rose 3%

Company cites stable results amid uncertainty and ongoing reorganizations for growth

Outlook

Swedbank did not provide specific financial guidance for upcoming quarters or the full year

Result Drivers

UNCERTAIN ENVIRONMENT - Co said results were stable despite external uncertainty

REORGANISATIONS - Co said it is reorganizing for stronger customer focus and growing volumes

STRUCTURAL IMPROVEMENTS - Co said structural improvements are the next step for growth and efficiency

Company press release: ID:nWkryyFbZ

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
SEK 6.50
Q1 Net Income
SEK 7.35 bln
Q1 Net Interest Income
SEK 11.15 bln
Q1 CET 1 Capital Ratio
17.50%
Q1 Net Commission Income
SEK 4.17 bln
Q1 Return on Equity
13.30%


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 5 "strong buy" or "buy", 8 "hold" and 6 "sell" or "strong sell"

The average consensus recommendation for the banks peer group is "buy."

Wall Street's median 12-month price target for Swedbank AB is SEK336.00, about 4.5% above its April 28 closing price of SEK321.60

The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 12 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)