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Swedbank Q3 net profit in line with forecasts - Finance news and analysis from Global Banking & Finance Review
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Swedbank Q3 net profit in line with forecasts

Published by Global Banking & Finance Review

Posted on October 22, 2026

1 min read

· Last updated: October 22, 2026

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Swedbank Q3 Net Profit in Line with Forecasts as Operating Profit Declines

Swedbank Third-Quarter 2023 Financial Results Overview

STOCKHOLM, Oct 22 (Reuters) - Swedish banking group Swedbank on Thursday reported third-quarter net profit in line with estimates and said the business climate in the quarter was positive.

Key Financial Highlights

Net Profit Performance

• Net profit fell 3% to 8.25 billion Swedish crowns ($834.74 million) from a year-ago 8.51 billion, in line with a mean forecast of 8.24 billion in a LSEG poll of analysts

Operating Profit and Credit Impairments

• Operating profit fell 5% to 10.57 billion Swedish crowns from a year-ago 11.08 billion, below a mean forecast of 11.05 billion

• Credit impairments were net positive and amounted to 701 million crowns

Regional Economic Outlook

• Swedbank estimates that the economies of Sweden, Estonia, Latvia and Lithuania will grow by 2-3% this year, twice as fast as the estimated growth rate in the euro area

Net Interest Income

• Net interest income rose 7% to 11.57 billion crowns from 10.82 billion last year, but below the estimated 11.82 billion

Exchange Rate Information

($1 = 9.8833 Swedish crowns)

Reporting Credits

(Reporting by Johan Ahlander, editing by Terje Solsvik)

Key Takeaways

  • Net profit of SEK 8.25 billion was within analysts’ LSEG consensus of SEK 8.24 billion, down 3% from last year.
  • Operating profit slipped 5% to SEK 10.57 billion, trailing the FactSet consensus of approximately SEK 10.36 billion.
  • Credit impairments were net positive at SEK 701 million, reflecting improved asset quality through revaluation gains.
  • Net interest income rose 7% to SEK 11.57 billion, supported by higher volumes, though slightly below consensus of SEK 11.74 billion.
  • Swedbank anticipates 2–3% GDP growth in Sweden, Estonia, Latvia, and Lithuania—roughly double the euro area’s pace—supporting its optimistic outlook.

References

Frequently Asked Questions

What was Swedbank's net profit for Q3?
Swedbank reported a net profit of 8.25 billion Swedish crowns for the third quarter, in line with analyst estimates.
How did Swedbank's Q3 operating profit compare to last year?
Operating profit for Q3 fell 5% to 10.57 billion crowns from last year’s 11.08 billion crowns.
Did Swedbank's credit impairments impact results?
Credit impairments were net positive and amounted to 701 million crowns in Q3.
How did Swedbank's net interest income perform in Q3?
Net interest income rose 7% year-over-year to 11.57 billion crowns, but was below the estimated 11.82 billion.
What growth does Swedbank estimate for the Nordic economies?
Swedbank estimates Sweden, Estonia, Latvia, and Lithuania will grow by 2-3% this year, twice as fast as the euro area.

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