Total revenues (once adjusted for one-off gains related to VISA Europe) are 2.5% higher than expectations (at SEK9.75bn), driven by all types of revenues (reported total income at SEK11.87bn). While expenses are in line with expectations, loan losses are above forecasts due to individual provisions in the oil-related exposures. CET1 ratio is 10bp lower than last quarter at 23%. Like Nordea yesterday, Swedbank disclosed its potential future requirements (SREP in September) which will be around
21 Jul 2016
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Swedbank AB Class A (FRYA:FRA) | 0 0 0.3% | Mkt Cap: 233,306m
- Published:
21 Jul 2016 -
Author:
Farhad Moshiri -
Pages:
3
Total revenues (once adjusted for one-off gains related to VISA Europe) are 2.5% higher than expectations (at SEK9.75bn), driven by all types of revenues (reported total income at SEK11.87bn). While expenses are in line with expectations, loan losses are above forecasts due to individual provisions in the oil-related exposures. CET1 ratio is 10bp lower than last quarter at 23%. Like Nordea yesterday, Swedbank disclosed its potential future requirements (SREP in September) which will be around