Swedbank Posts Lower Q2 Earnings

Swedish bank Swedbank AB

reported a fall in its second-quarter earnings. Swedbank's quarterly net profit dropped to SEK1.59 billion, from SEK3.15 billion, in the year-ago period. However, analysts were expecting a profit of SEK1.84 billion. Its net interest income surged to SEK5.41 billion from SEK5.04 billion, versus estimates of SEK5.32 billion. Swedbank shares closed at $24.12 yesterday.