Swedbank Posts Upbeat Q1 Net Profit

Swedbank AB

posted a decline in its first-quarter net profit. Swedbank's quarterly net profit dropped to SEK3.43 billion from SEK3.85 billion, versus analysts' estimates of SEK3.05 billion. Its net interest income climbed to SEK5.21 billion from SEK4.50 billion, beating analysts' estimates of SEK4.97 billion. Swedbank shares closed at $15.30 yesterday.