Swedbank's Q1 net profit beats expectations

Swedish banking group Swedbank reported a first-quarter net profit above expectations on Thursday and said the economy had proved surprisingly resilient.

The Nordic country's biggest mortgage lender said net profit rose to 8.43 billion crowns ($776 mln) from a year-ago 7.56 billion against a mean forecast of 8.22 billion in an LSEG poll of analysts.