STOCKHOLM (dpa-AFX) - Swedbank AB (SWED-A.ST, SWED_A.ST), a Swedish banking group, Friday said that its second-quarter profit fell 9 percent, impacted by expenses and credit impairments. The total income rose 7 percent during the given quarter, helped by higher net interest income and net commission income.
The company posted second quarter profit of 7.20 billion Swedish Kroner or 6.37 Kroner per share, lower than 7.89 billion Kroner or 6.99 Kroner per share in the year-ago quarter.
During the three months, pre-tax profit came in at 9.15 billion Kroner, compared to 10.02 billion Kroner in the same period last year.
According to Swedbank AB, total income rose to 18.10 billion Kroner in the second quarter from 16.96 billion Kroner in the corresponding period a year ago. Net interest income came in at 11.28 billion Kroner, higher than 10.91 billion Kroner in the prior-year quarter.
The company's net commission income climbed 7 percent to 4.46 billion Kroner in the given quarter from 3.90 billion Kroner in the year-ago period.
On the Stockholm Exchange, SWED-A.ST ended Thursday's trading at 370.70 Swedish Kroner, up 4.30 Kroner or 1.2 percent.
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