- (PLX AI) - Handelsbanken shares fell 3.3% in early trading after fourth-quarter earnings came in just below consensus and expenses rose 13%.
- • Expenses went up by 13% to SEK 5,187 million in the quarter, the bank said
- • Adjusted for the provision for Oktogonen, expenses rose by 5%, or SEK 249 million; this was primarily attributable to a SEK 206m increase in development costs, the bank said
- • Costs are high and the proposed dividend of SEK 5 is lower than consensus, analysts at SEB said
- • Denmark and Finland divestments could eventually lead to distributions to shareholders, but without any details on the timeline and pricing of these divestments, they will not be catalysts for the stock, Bank of America analysts said
- • NOTE: Handelsbanken is holding a conference call at 11:00 CET
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