Swedbank Posts Upbeat Q4 Profit

Swedbank AB (OTC:

) posted a surge in its fourth-quarter net profit. Swedbank proposed a dividend of SEK9.90 per share, versus SEK5.30 in the earlier year. Its quarterly net profit climbed to SEK4.34 billion from SEK964 million, versus analysts' estimates of SEK3.6 billion. Swedbank's net interest income surged to SEK5.47 billion from SEK4.97 billion, versus estimates of SEK5.26 billion. Swedbank shares closed at $21.18 yesterday.