Swedbank released this morning its numbers for Q3 20. Numbers are better than expected across-the-board except on net interest income.
Loan losses were half that expected and expenses were 10% below expectations. Management therefore updated its guidance on the costs side (below SEK21bn vs SEK21.5bn previously). No guidance is given yet for the cost of risk going into 2021 (“there is reason to be cautious of market fluctuations, currently COVID-19 cases are increasing in the world”).
20 Oct 2020
Better numbers
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Swedbank AB Class A (0H6T:LON), 0 | Swedbank AB Class A (SWED.A:OME), 0 | Swedbank AB Class A (SWDBF:OTC), 0 | Swedbank AB Class A (FRYA:FRA), 0
- Published:
20 Oct 2020 -
Author:
Farhad Moshiri -
Pages:
3
Swedbank released this morning its numbers for Q3 20. Numbers are better than expected across-the-board except on net interest income.
Loan losses were half that expected and expenses were 10% below expectations. Management therefore updated its guidance on the costs side (below SEK21bn vs SEK21.5bn previously). No guidance is given yet for the cost of risk going into 2021 (“there is reason to be cautious of market fluctuations, currently COVID-19 cases are increasing in the world”).