Sweden's Handelsbanken Q2 net profit beats consensus

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Colm Fulton Reuters
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Sweden's Handelsbanken reported a smaller-than-expected fall in quarterly net earnings on Wednesday, as the bank's loan portfolio continued to weather the impact of the coronavirus pandemic with ease.

STOCKHOLM, July 15 (Reuters) - Sweden's Handelsbanken SHBa.ST reported a smaller-than-expected fall in quarterly net earnings on Wednesday, as the bank's loan portfolio continued to weather the impact of the coronavirus pandemic with ease.

Second-quarter net profit fell to 3.96 billion Swedish crowns ($436 million) from 4.22 billion in the previous year, easily beating the mean forecast of 3.34 billion seen by analysts according to Refinitiv data.

Loan losses, a figure closely watched due to a slump in the pandemic-hit wider economy, were 97 million crowns, better than a year-ago 435 million and much lower than the 1.02 billion loss expected by analysts.

($1 = 9.0840 Swedish crowns)

(Reporting by Colm Fulton; editing by Niklas Pollard)

((Colm.Fulton@thomsonreuters.com;))

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