Handelsbanken Posts Upbeat Q1 Profit

Svenska Handelsbanken AB

reported a gain in its first-quarter net profit. Svenska Handelsbanken's quarterly net profit surged to SEK3.47 billion, versus SEK3.27 billion, in the year-ago period. However, analysts were expecting a profit of SEK3.24 billion. Its net interest income declined to SEK6.54 billion from SEK6.56 billion, while taxes dropped to SEK885 million from SEK1.24 billion. Svenska Handelsbanken shares closed at $20.61 yesterday.