SEB Posts Higher Q2 Profit

Swedish bank SEB AB posted a better-than-expected second-quarter net profit. SEB's quarterly net profit surged to SEK3.79 billion, versus SEK2.96 billion, in the year-ago period. However, analysts were expecting a profit of SEK3.27 billion. Its net interest income increased to SEK4.68 billion from SEK4.53 billion, versus estimates of SEK4.54 billion. SEB's net fee and commission income jumped to SEK3.81 billion from SEK3.45 billion.