Sweden's Handelsbanken Q2 net profit beats consensus

Sweden's Handelsbanken reported a smaller-than-expected fall in quarterly net earnings on Wednesday, as the bank's loan portfolio continued to weather the impact of the coronavirus pandemic with ease.

Second-quarter net profit fell to 3.96 billion Swedish crowns ($436 million) from 4.22 billion in the previous year, easily beating the mean forecast of 3.34 billion seen by analysts according to Refinitiv data.

Loan losses, a figure closely watched due to a slump in the pandemic-hit wider economy, were 97 million crowns, better than a year-ago 435 million and much lower than the 1.02 billion loss expected by analysts. ($1 = 9.0840 Swedish crowns)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)