Swedbank’s (OMX: SWED A) second quarter result amounted to 3452 billion SEK and return on equity was 14.4%. Both numbers are down slightly from last year. CEO Michael Wold was happy with continued improvement in credit quality and net interest income growth. He feels that this strong report allows increased focus on returns and Swedbank is guiding for gradual improvement in profit.
Basel II core Tier 1 capital ratio was 14.8% and Tier 1 capital ratio 16.1%. The same numbers according to transition rules were 10.1% and 11.0% respectively. Liquidity reserve was increased to over 200 billion. Swedbank is up 3% two hours into the trading session. Full interim report is available here.
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