Latest news with #Swedbank
Finextra
17-07-2025
- Business
- Finextra
Swedbank appoints chief risk officer
Swedbank has appointed Martin Noréus as the Group's new Chief Risk Officer. He will take on his role on 1 May 2026, and will join Swedbank's Group Executive Committee on that date. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Martin Noréus has extensive experience from both banking and finance as well as from the public sector. Since 2020, he has held senior positions at Handelsbanken. 'I am pleased to welcome Martin to Swedbank. His broad knowledge and experience will be important as Group Risk continues to develop the bank's risk management,' says Jens Henriksson, President and CEO of Swedbank. Martin Noréus holds a Master of Science in Macroeconomics & Finance from HEC Lausanne and a Bachelor of Science in Economics from Uppsala University. 'I am very much looking forward to joining Swedbank and continuing to develop the Group's work in the risk area,' says Martin Noréus. Swedbank's current Chief Risk Officer, Rolf Marquardt, will remain in his role until Martin Noréus takes over, after which he will become a senior advisor. 'In May 2026, Rolf will pass on the torch as Group Risk enters its next phase. His insights and expertise make him exceptionally well-suited as a senior advisor and for board work within our companies. I look forward to continued good cooperation with Rolf,' says Jens Henriksson.
Mint
17-07-2025
- Business
- Mint
Swedbank Profit Beats on Lower Costs as Lending Income Drops
(Bloomberg) -- Swedbank AB reported second-quarter earnings that beat analysts estimates as lower costs offset slowing income from lending and fees and commissions. Net interest income fell 10% from a year earlier, the Swedish bank said Thursday, in line with estimates. While net commissions declined more than expected, a 5.4% drop in total expenses helped offset that impact. Net income of 7.9 billion kronor ($810 million) exceeded the 7.2 billion kronor that analysts polled by Bloomberg had estimated. Like other Nordic lenders, Swedbank is trying to offset the impact of falling interests rates, after the Riksbank last month cut its policy rate to the lowest in more than two years. Market volatility, a stronger Swedish krona and geopolitical uncertainty are adding to the headwinds. Rival SEB AB reported a 12% drop in net interest income on Wednesday and Svenska Handelsbanken AB saw that metric decline 9%. Shares of Swedbank rose 2.2% at 9:05 a.m. in Stockholm, bringing gains this year to 14%. Led by Chief Executive Officer Jens Henriksson, Swedbank also continues to wait for a verdict from US authorities to end a long-running probe into its past failures in anti-money laundering and counter-terrorism financing. The lender on Wednesday appointed Martin Noreus as new chief risk officer, replacing Rolf Marquardt, who will become a senior adviser. Swedbank announced earlier in July it would buy digital mortgage credit firm Stabelo to help bolster its home-loan business, reaching younger and more digitally savvy customers. (Updates with shares in sixth paragraph.) More stories like this are available on
Reuters
17-07-2025
- Business
- Reuters
Swedbank net profit beats forecast amid market uncertainty
STOCKHOLM, July 17 (Reuters) - Swedish banking group Swedbank ( opens new tab reported a net profit for the second quarter that beat market expectations on Thursday but said the global economy remained marked by uncertainty with weakening activity in its main market Sweden. The bank said in a statement its net profit for the period fell to 7.89 billion Swedish crowns ($810 million) from a year-ago 8.60 billion but came in above a mean forecast of 7.18 billion in a LSEG poll of analysts. Sweden's biggest mortgage lender published its results shortly after regional peer Nordea ( opens new tab delivered a beat on earnings while domestic rivals SEB ( opens new tab and Handelsbanken ( opens new tab presented their reports on Wednesday. Nordic banks have seen central bank rate cuts across the region weigh on interest over the past year while uncertainty over U.S. tariffs and any European retaliation has clouded the outlook for lenders and the economies they serve. "In general, I'd say there's not exactly a wet blanket (over markets) but rather a wait-and-see attitude," CEO Jens Henriksson said in a conference call with reporters. Swedbank said its net interest income, which includes revenues from mortgages, fell to 10.92 billion crowns from 12.17 billion a year earlier, narrowly topping the 10.90 billion seen by analysts. ($1 = 9.7352 Swedish crowns)
Bloomberg
17-07-2025
- Business
- Bloomberg
Swedbank Earnings Beat on Lower Costs as Lending Income Drops
Swedbank AB reported second-quarter earnings that beat analysts estimates as lower costs offset slowing income from lending and fees and commissions. Net interest income at the Stockholm-based lender fell 10% from a year earlier, in line with estimates. While net commissions declined more than expected, a 5.4% drop in total expenses helped offset that impact.
Local Sweden
07-07-2025
- Business
- Local Sweden
Economists 'concerned' about higher than expected Swedish inflation
Swedish inflation figures saw an unexpected rise last month, which has concerned economists and lowered the chances of the central bank cutting the interest rate at its next meeting in August. Advertisement "There probably won't be a cut to the interest rate until we see confirmation that this was an exception rather than a trend," Alexandra Stråberg, head economist at Länsförsäkringar, told the TT newswire. CPIF Inflation in June rose to 2.9 percent. Not only was that higher than the 2.3 percent the country saw in May, but it was also higher than expected ‒ economists had predicted a figure of 2.5 percent. CPIF inflation is the figure used by the Riksbank central bank. It has a target of 2 percent, much lower than the inflation figures reported in June. "We knew inflation was going to rise but it's a bit surprising that the result was so much higher than expected," Swedbank chief economist Mattias Persson said. "It's gone the wrong way and that's a bit concerning." These figures are Statistics Sweden's preliminary figures, with more in-depth statistics provided next week. Persson believed that the increase could be due to so-called base effects, which change when Statistics Sweden make yearly alterations to its measurements. Stråberg agreed, while adding that the figures were still quite high. "It's a bit high for that," she said, adding that the figures could make it difficult for the Riksbank to decide how to proceed with its fiscal policy. Advertisement At the bank's last meeting in June, it lowered the key interest rate to 2 percent. The next announcement is scheduled for August 20th, but higher-than-expected inflation figures make the chance of another cut at that meeting less likely. Robert Boije, head economist at SBAB, believes that the inflation rate for June has all but wiped out any chance of a cut in August. At the same time, economic recovery is slow, which has lead Persson from Swedbank to predict a cut in September instead. "I still think we need another cut, and I wouldn't rule out the possibility of them moving that further into the future," he said. "We also need to remember that Trump is set to announce his tariffs this week." He added that the uncertainty surrounding tariff discussions between the EU, Sweden and the US are "concerning." He's also not convinced that US President Donald Trump will make a U-turn on tariff decisions at the last minute, a behaviour that has led to the coining of the term TACO, 'Trump Always Chickens Out'. "I think insecurity will rise this week," he said. "I think we've been living in some sort of TACO-coma and am worried that now Trump has passed his budget he believes he can do whatever he wants politically."
