By Dominic Chopping
STOCKHOLM--Svenska Handelsbanken on Wednesday posted a second-quarter net profit that beat expectations as net interest income continued to rise with recovering interest-rate margins.
The Swedish bank reported net profit of 7.1 billion Swedish kronor ($694.8 million), compared with SEK4.21 billion a year earlier and a FactSet consensus forecast of SEK6.64 billion.
Net interest income rose to SEK11.69 billion from SEK8.39 billion, against a forecast of SEK11.83 billion.
"The bank is in a very good position," Chief Executive Carina Akerstrom said.
"Demand is higher than ever for unique access to personal service, a local presence and cutting-edge expertise. This creates fertile ground for continued stable growth, profitability and efficiency improvements," Akerstrom added.
Handelsbanken's common equity Tier 1 ratio--a measure of financial strength--was 19.8%, up from 18.7%.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
07-19-23 0139ET